The Long & Foster Market Minute

Focus On: Southwest and Waterfront Housing Market June 2021

Zip Code(s): 20024
Units Sold
35
Active Inventory
56
Median Sale Price
$455,000
Days On Market
34
Up
Vs. Year Ago
Up 124%
Vs. Year Ago
Up
Vs. Year Ago
Up 48%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 35 sold this month in Southwest and Waterfront Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 31 units or 124%. The total number of active inventory this June was 56 compared to 25 in June 2020. This month's total of 56 is lower than the previous month's total supply of available inventory of 74, a decrease of 24%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Southwest and Waterfront Homes was $335,100. This June, the median sale price was $455,000, an increase of $119,900 compared to last year. The current median sold price is higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
34
Current Contracts
41
Sold Vs. List Price
101.0%
Months of Supply
1.6
Up 183%
Vs. Year Ago
Up 128%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Up 47%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Southwest and Waterfront, compared to 1.1 in June 2020. That is an increase of 47% 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 34 homes newly listed for sale in Southwest and Waterfront compared to 12 in June 2020, an increase of 183%. There were 41 current contracts pending sale this June compared to 18 a year ago. The number of current contracts is 128% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Southwest and Waterfront was 101.0% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 34, higher than the average last year, which was 23, an increase of 48%.

The Long & Foster Market Minute Southwest and Waterfront are defined as properties in zip code 20024.
*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.