The Long & Foster Market Minute

Focus On: Glen Allen Housing Market March 2021

Zip Code(s): 23059 and 23060
Units Sold
114
Active Inventory
98
Median Sale Price
$359,500
Days On Market
22
Up 8%
Vs. Year Ago
Down -65%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 114 sold this month in Glen Allen 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 184 units or 65%. The total number of active inventory this March was 98 compared to 282 in March 2020. This month's total of 98 is lower than the previous month's total supply of available inventory of 107, a decrease of 8%.

Median Sale Price
Last March, the median sale price for Glen Allen Homes was $376,267. This March, the median sale price was $359,500, a decrease of 4% or $16,767 compared to last year. The current median sold price is 2% 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
137
Current Contracts
122
Sold Vs. List Price
101.2%
Months of Supply
0.9
Down -22%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Glen Allen, compared to 2.7 in March 2020. That is a decrease of 68% 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 137 homes newly listed for sale in Glen Allen compared to 175 in March 2020, a decrease of 22%. There were 122 current contracts pending sale this March compared to 127 a year ago. The number of current contracts is 4% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Glen Allen was 101.2% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 45, a decrease of 51%.

The Long & Foster Market Minute Glen Allen are defined as properties listed in zip code/s 23059 and 23060.
*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.