The Long & Foster Market Minute

Focus On: Bensley and Bellwood Housing Market March 2021

Zip Code(s): 23234 and 23237
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 29%
Vs. Year Ago
Down -74%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -64%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 99 sold this month in Bensley and Bellwood 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 108 units or 74%. The total number of active inventory this March was 38 compared to 146 in March 2020. This month's total of 38 is lower than the previous month's total supply of available inventory of 54, a decrease of 30%.

Median Sale Price
Last March, the median sale price for Bensley and Bellwood Homes was $223,000. This March, the median sale price was $251,785, an increase of 13% or $28,785 compared to last year. The current median sold price is 2% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 15%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 2.4%
Vs. Year Ago
Down -80%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Bensley and Bellwood, compared to 1.9 in March 2020. That is a decrease of 80% 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 100 homes newly listed for sale in Bensley and Bellwood compared to 87 in March 2020, an increase of 15%. There were 108 current contracts pending sale this March compared to 90 a year ago. The number of current contracts is 20% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bensley and Bellwood was 103.0% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 33, a decrease of 64%.

The Long & Foster Market Minute Bensley and Bellwood are defined as properties listed in zip code/s 23234 and 23237.
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.