The Long & Foster Market Minute

Focus On: Bedford County and Bedford City Housing Market June 2021

Units Sold
114
Active Inventory
144
Median Sale Price
$304,875
Days On Market
15
Down -17%
Vs. Year Ago
Down -32%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -78%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 114 sold this month in Bedford County and Bedford City Real Estate versus 137 last month, a decrease of 17%. This month's total units sold was lower than at this time last year, a decrease of 17% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 69 units or 32%. The total number of active inventory this June was 144 compared to 213 in June 2020. This month's total of 144 is higher than the previous month's total supply of available inventory of 132, an increase of 9%.

Median Sale Price
Last June, the median sale price for Bedford County and Bedford City Homes was $244,900. This June, the median sale price was $304,875, an increase of 24% or $59,975 compared to last year. The current median sold price is 17% 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
166
Current Contracts
134
Sold Vs. List Price
100.9%
Months of Supply
1.3
Up 8%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 2.9%
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Bedford County and Bedford City, compared to 1.6 in June 2020. That is a decrease of 19% 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 166 homes newly listed for sale in Bedford County and Bedford City compared to 153 in June 2020, an increase of 8%. There were 134 current contracts pending sale this June compared to 152 a year ago. The number of current contracts is 12% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bedford County and Bedford City was 100.9% of the average list price, which is 2.8% 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 67, a decrease of 78%.

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 LAR 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 LAR or Long & Foster Real Estate, Inc.