The Long & Foster Market Minute

Focus On: Cumberland County Housing Market June 2021

Units Sold
4
Active Inventory
76
Median Sale Price
$194,950
Days On Market
24
Down
Vs. Year Ago
Down -45%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 4 sold this month in Cumberland County Real Estate. This month's total units sold was lower than at this time last year, a decrease from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 63 units or 45%. The total number of active inventory this June was 76 compared to 139 in June 2020. This month's total of 76 is lower than the previous month's total supply of available inventory of 78, a decrease of 3%.

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 Cumberland County Homes was $133,766. This June, the median sale price was $194,950, an increase of $61,184 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
11
Current Contracts
6
Sold Vs. List Price
103.3%
Months of Supply
19.0
Down -63%
Vs. Year Ago
Down -82%
Vs. Year Ago
Up 2.5%
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In June, there was 19.0 months of supply available in Cumberland County, compared to 7.0 in June 2020. That is an increase 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 11 homes newly listed for sale in Cumberland County compared to 30 in June 2020, a decrease of 63%. There were 6 current contracts pending sale this June compared to 34 a year ago. The number of current contracts is 82% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Cumberland County was 103.3% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 89. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute
*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 SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc.