The Long & Foster Market Minute

Focus On: Blackwell and Broad Rock Housing Market March 2021

Zip Code(s): 23224
Units Sold
26
Active Inventory
57
Median Sale Price
$184,000
Days On Market
10
Down
Vs. Year Ago
Down -30%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 26 sold this month in Blackwell and Broad Rock Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 30%. The total number of active inventory this March was 57 compared to 82 in March 2020. This month's total of 57 is lower than the previous month's total supply of available inventory of 62, a decrease of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Blackwell and Broad Rock Homes was $132,500. This March, the median sale price was $184,000, an increase of $51,500 compared to last year. The current median sold price is lower 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
59
Current Contracts
55
Sold Vs. List Price
103.4%
Months of Supply
2.2
Up 119%
Vs. Year Ago
Up 57%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In March, there was 2.2 months of supply available in Blackwell and Broad Rock, compared to 2.8 in March 2020. That is a decrease of 22% 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 Blackwell and Broad Rock compared to 27 in March 2020, an increase of 119%. There were 55 current contracts pending sale this March compared to 35 a year ago. The number of current contracts is 57% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Blackwell and Broad Rock was 103.4% of the average list price, which is 3.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 35. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Blackwell and Broad Rock are defined as properties listed in zip code/s 23224.
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.