Inventory in Fuquay-Varina has thinned compared with last year, with active listings down about 6 percent year over year in this rolling three-month view. New listings are also slightly lower than a year ago, even though they just saw a solid month-to-month bump. Months of supply has risen to 3.5, up more than 40 percent from last year, moving conditions closer to balance even though it is still labeled a seller’s market.
Contract activity is softer than a year ago, with homes sold down roughly 11 percent and pending sales nearly 18 percent lower year over year. This slower pace is showing up in how long it takes properties to go under contract, as the median days on market has surged to 38 days, more than triple last year’s level in this rolling three-month period.
Prices have adjusted only modestly despite the shift in speed and supply. The typical home value is down about 4 percent compared with a year earlier, while the median list price is roughly flat, edging less than 1 percent higher year over year and keeping the average sale-to-list ratio just under 99 percent. A smaller share of homes is selling above asking than two years ago, with about 15 percent closing over list in the latest period. With conditions evolving for both pricing and time on market, Agent Pronto can connect buyers and sellers with a local Fuquay-Varina agent who understands how to navigate this environment.
