The Long & Foster Market Minute

Focus On: Huntington and Burgundy Village Housing Market March 2021

Zip Code(s): 22307 and 22303
Units Sold
46
Active Inventory
63
Median Sale Price
$425,000
Days On Market
15
Down -10%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 46 sold this month in Huntington and Burgundy Village Real Estate versus 40 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 10% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 13%. The total number of active inventory this March was 63 compared to 56 in March 2020. This month's total of 63 is higher than the previous month's total supply of available inventory of 42, an increase of 50%.

Median Sale Price
Last March, the median sale price for Huntington and Burgundy Village Homes was $400,500. This March, the median sale price was $425,000, an increase of 6% or $24,500 compared to last year. The current median sold price is 4% 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
98
Current Contracts
65
Sold Vs. List Price
100.0%
Months of Supply
1.4
Up 42%
Vs. Year Ago
Up 71%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In March, there was 1.4 months of supply available in Huntington and Burgundy Village, compared to 1.1 in March 2020. That is an increase of 25% 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 98 homes newly listed for sale in Huntington and Burgundy Village compared to 69 in March 2020, an increase of 42%. There were 65 current contracts pending sale this March compared to 38 a year ago. The number of current contracts is 71% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Huntington and Burgundy Village was 100.0% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 17, a decrease of 12%.

The Long & Foster Market Minute Huntington and Burgundy Village are defined as properties listed in zip code/s 22307 and 22303.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.