The Long & Foster Market Minute

Focus On: Chancellor and Southern Fredericksburg Housing Market June 2021

Zip Code(s): 22407 and 22408
Units Sold
236
Active Inventory
149
Median Sale Price
$365,000
Days On Market
9
Up 16%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 236 sold this month in Chancellor and Southern Fredericksburg Real Estate versus 217 last month, an increase of 9%. This month's total units sold was higher than at this time last year, an increase of 16% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 10 units or 7%. The total number of active inventory this June was 149 compared to 139 in June 2020. This month's total of 149 is higher than the previous month's total supply of available inventory of 115, an increase of 30%.

Median Sale Price
Last June, the median sale price for Chancellor and Southern Fredericksburg Homes was $299,000. This June, the median sale price was $365,000, an increase of 22% or $66,000 compared to last year. The current median sold price is 1% 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
275
Current Contracts
214
Sold Vs. List Price
102.6%
Months of Supply
0.6
Up 58%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Chancellor and Southern Fredericksburg. 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 275 homes newly listed for sale in Chancellor and Southern Fredericksburg compared to 174 in June 2020, an increase of 58%. There were 214 current contracts pending sale this June compared to 185 a year ago. The number of current contracts is 16% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Chancellor and Southern Fredericksburg was 102.6% 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 9, lower than the average last year, which was 20, a decrease of 55%.

The Long & Foster Market Minute Chancellor and Southern Fredericksburg are defined as properties listed in zip code/s 22407 and 22408.
*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.