The Long & Foster Market Minute

Focus On: Burke Housing Market June 2021

Zip Code(s): 22015
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 78%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 95 sold this month in Burke 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 higher by 18 units or 78%. The total number of active inventory this June was 41 compared to 23 in June 2020. This month's total of 41 is higher than the previous month's total supply of available inventory of 30, an increase of 37%.

Median Sale Price
Last June, the median sale price for Burke Homes was $556,000. This June, the median sale price was $530,000, a decrease of 5% or $26,000 compared to last year. The current median sold price is 15% lower 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 65%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 2.4%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Burke. The amount of supply is similar compared to 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 104 homes newly listed for sale in Burke compared to 63 in June 2020, an increase of 65%. There were 78 current contracts pending sale this June compared to 68 a year ago. The number of current contracts is 15% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Burke was 103.7% of the average list price, which is 2.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, higher than the average last year, which was 9, an increase of 11%.

The Long & Foster Market Minute Burke are defined as properties listed in zip code/s 22015.
*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.