The Long & Foster Market Minute

Focus On: Edgefield and Churchland Housing Market March 2021

Zip Code(s): 23703
Units Sold
42
Active Inventory
25
Median Sale Price
$235,000
Days On Market
20
Down -7%
Vs. Year Ago
Down -74%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 42 sold this month in Edgefield and Churchland Real Estate versus 38 last month, an increase of 11%. This month's total units sold was lower than at this time last year, a decrease of 7% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 71 units or 74%. The total number of active inventory this March was 25 compared to 96 in March 2020. This month's total of 25 is lower than the previous month's total supply of available inventory of 36, a decrease of 31%.

Median Sale Price
Last March, the median sale price for Edgefield and Churchland Homes was $226,900. This March, the median sale price was $235,000, an increase of 4% or $8,100 compared to last year. The current median sold price is 3% 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
52
Current Contracts
61
Sold Vs. List Price
101.2%
Months of Supply
0.6
Down -25%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -72%
Vs. Year Ago

Months of Supply
In March, there was 0.6 months of supply available in Edgefield and Churchland, compared to 2.1 in March 2020. That is a decrease of 72% 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 52 homes newly listed for sale in Edgefield and Churchland compared to 69 in March 2020, a decrease of 25%. There were 61 current contracts pending sale this March compared to 49 a year ago. The number of current contracts is 24% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Edgefield and Churchland was 101.2% of the average list price, which is 2.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 41, a decrease of 51%.

The Long & Foster Market Minute Edgefield and Churchland are defined as properties listed in zip code/s 23703.
*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.