The Long & Foster Market Minute

Focus On: Oak Hill Housing Market March 2021

Zip Code(s): 20171
Units Sold
22
Active Inventory
13
Median Sale Price
$566,500
Days On Market
11
Down
Vs. Year Ago
Down -64%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 22 sold this month in Oak Hill 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 23 units or 64%. The total number of active inventory this March was 13 compared to 36 in March 2020. This month's total of 13 is higher than the previous month's total supply of available inventory of 11, an increase of 18%.

Median Sale Price
Last March, the median sale price for Oak Hill Homes was $549,500. This March, the median sale price was $566,500, an increase of 3% or $17,000 compared to last year. The current median sold price is 11% 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
40
Current Contracts
35
Sold Vs. List Price
103.5%
Months of Supply
0.6
Up 14%
Vs. Year Ago
Up 59%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Down -61%
Vs. Year Ago

Months of Supply
In March, there was 0.6 months of supply available in Oak Hill, compared to 1.5 in March 2020. That is a decrease of 61% 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 40 homes newly listed for sale in Oak Hill compared to 35 in March 2020, an increase of 14%. There were 35 current contracts pending sale this March compared to 22 a year ago. The number of current contracts is 59% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Oak Hill was 103.5% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 11, lower than the average last year, which was 36. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Oak Hill are defined as properties listed in zip code/s 20171.
*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.