The Long & Foster Market Minute

Focus On: Beaconsdale and Morrison Housing Market March 2021

Zip Code(s): 23601
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Down -67%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 52 sold this month in Beaconsdale and Morrison Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 49 units or 67%. The total number of active inventory this March was 24 compared to 73 in March 2020. This month's total of 24 is lower than the previous month's total supply of available inventory of 31, a decrease of 23%.

Median Sale Price
Last March, the median sale price for Beaconsdale and Morrison Homes was $196,950. This March, the median sale price was $230,000, an increase of 17% or $33,050 compared to last year. The current median sold price is 7% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 44%
Vs. Year Ago
Up 88%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Beaconsdale and Morrison, compared to 1.9 in March 2020. That is a decrease of 76% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 59 homes newly listed for sale in Beaconsdale and Morrison compared to 41 in March 2020, an increase of 44%. There were 60 current contracts pending sale this March compared to 32 a year ago. The number of current contracts is 88% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Beaconsdale and Morrison was 100.2% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 51, a decrease of 51%.

The Long & Foster Market Minute Beaconsdale and Morrison are defined as properties listed in zip code/s 23601.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by REIN and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of REIN or Long & Foster Real Estate, Inc.