Average Home Price In Johnston County June 2020

What is the average home price in Johnston County NC? The most reliable way of finding this number is to use standardized sources such as the Triangle Multiple Listing Service. I have pulled their market report on average home prices in Johnston County NC and will explain that data here.

JuneYear To Date
June 2019June 2020+/-(%)20192020+/-(%)
New Listings532500-6%3,0393,067+0.9%
Closed Sales465553+18.9%2,4262,565+5.7%
Median Price Price$237,500$246,900+4.0%$232,500$247,900+6.6%
Average Sales Price$244,974$254,510+3.9%$241,801$254,271+5.2%
% Of Original List Price Received98.5%98.8%+0.3%98.5%98.7%+0.2%
Percent Of List Price Received99.0%99.5%0.5%99.2%99.4%+0.2%
Days On Market2627+3.8%3130-3.2%
Inventory Of Homes897626-30.2%
Months Supply2.21.4-36.4%
Data Courtesy of Triangle Multiple Listing Service

New Listings in Johnston County NC June 2020

There were 500 new listings in Johnston County in the month of June which is a 6% drop from 532 listings in June 2019.

There were 3,067 listings in June 2020 year-to-date vs 3,039 from June 2019. Like the rest of the Triangle NC, inventory continues to be a problem. There is not enough inventory on the market, as we will see below, to satisfy the demand for housing.

Closed Sales in Johnston County June 2020

There were 465 closed sales as compared with 553 a year earlier. Year-to-date there are 2,565 closed sales, up 5.7% from last year.

Median Sales Price of Houses in Johnston County June 2020

The median sales prices of houses in Johnston County NC has increased 4% from $237,500 in June 2019 to $246,900 in June of 2020. Price appreciation is still strong in Johnston County.

Median Sales Price of Houses in Wake County 2020 Year-To-Date

The year-to-date number for the median price is strong, showing 6.6% appreciation over the last year. The median price of homes has increased from $233,500 to $247,900.

If you are curious about the difference between average and median sales price there is a separate article explaining that in detail.

Average Sales Price Of Houses in Johnston County June 2020

The average sales price of houses in Johnston County rose from $244,974 in June 2019 to $254,510 in June 2020. This is a solid 3.9% increase.

Average Sales Price Of Houses In Johnston County 2020 Year-To-Date

The average sales price for houses in Johnston County 2020 year-to-date increased 5.2% from $241,801 last year to $254,271 this year.

Percent Of Original List Price Received June 2020

98.5% of original list price received in June 2019 vs. 98.8% in June 2020, a 0.3% increase. The year-to-date figure is 98.7% vs. 98.5% a year earlier. This number accounts for changes in listing price, a drop in price for example, and does not include any seller concessions (repair concessions, home warranties, closing costs, etc).

Percent of List Price Received June 2020

99% of list price received in June 2019 increased to 99.5% in June 2020. What this number means is that sellers are getting very close to their asking price. And some sellers are getting more. These are strong numbers for home sellers.

Days On Market Until Sale

We see an increase of 3.8% for days on market from 26 in June 2019 to 27 days this year. The average days on market year to date 2020 is 30, which is a 3.2% decrease from last year. This is comparable to the numbers reported for Wake County.

Inventory Of Homes For Sale in Johnston County June 2020

Inventory continues to be a problem! There were 897 homes for sale in June 2019 and only 626 houses this year. This is a 30.2% decrease in inventory! Simply put, there is not enough inventory on the market to satisfy the demand for housing.

Months Supply Of Inventory

Inventory levels continue to drop from 2.2 months supply in June 2019 to 1.4 this year. That is a 36.4% decrease in inventory.

Summary

Johnston County is a great market for home sellers. People that own homes in Clayton and Johnston County as a whole are seeing strong and steady appreciation despite the problems in the economy. The advantage Johnston County has over Wake County is affordability. The average and median prices are lower, as well as the average price per square foot. Simply put, you can get more house for your money in Johnston County. Buyers need to be competitive to be able to buy a house. With low inventory levels, and the nicest houses selling in one day, buyers need to have their financing in place and act quickly when they find something they like.

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