The Long & Foster Market Minute

Focus On: Spring Valley and Wesley Heights Housing Market June 2021

Zip Code(s): 20016
Units Sold
81
Active Inventory
72
Median Sale Price
$1,465,000
Days On Market
27
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Up
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 81 sold this month in Spring Valley and Wesley Heights 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 13 units or 15%. The total number of active inventory this June was 72 compared to 85 in June 2020. This month's total of 72 is higher than the previous month's total supply of available inventory of 67, an increase of 7%.

Median Sale Price
Last June, the median sale price for Spring Valley and Wesley Heights Homes was $778,000. This June, the median sale price was $1,465,000, an increase of $687,000 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
82
Current Contracts
61
Sold Vs. List Price
102.1%
Months of Supply
0.9
Up 30%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -56%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Spring Valley and Wesley Heights, compared to 2.0 in June 2020. That is a decrease of 56% 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 82 homes newly listed for sale in Spring Valley and Wesley Heights compared to 63 in June 2020, an increase of 30%. There were 61 current contracts pending sale this June compared to 59 a year ago. The number of current contracts is 3% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Spring Valley and Wesley Heights was 102.1% of the average list price, which is 3.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, higher than the average last year, which was 25, an increase of 8%.

The Long & Foster Market Minute Spring Valley and Wesley Heights is defined as properties in zip code 20016 and includes, but is not limited to these neighborhoods: Spring Valley, Wesley Heights, and AU Park.
*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.