The Long & Foster Market Minute

Focus On: Chesterfield County and Colonial Heights City Housing Market June 2021

Units Sold
851
Active Inventory
530
Median Sale Price
$330,000
Days On Market
11
Up 15%
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -61%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 851 sold this month in Chesterfield County and Colonial Heights City Real Estate versus 738 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 15% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 756 units or 59%. The total number of active inventory this June was 530 compared to 1,286 in June 2020. This month's total of 530 is lower than the previous month's total supply of available inventory of 553, a decrease of 4%.

Median Sale Price
Last June, the median sale price for Chesterfield County and Colonial Heights City Homes was $283,000. This June, the median sale price was $330,000, an increase of 17% or $47,000 compared to last year. The current median sold price is 4% 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
908
Current Contracts
824
Sold Vs. List Price
104.0%
Months of Supply
0.6
Up 7%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Chesterfield County and Colonial Heights City, compared to 1.7 in June 2020. That is a decrease of 64% 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 908 homes newly listed for sale in Chesterfield County and Colonial Heights City compared to 852 in June 2020, an increase of 7%. There were 824 current contracts pending sale this June compared to 778 a year ago. The number of current contracts is 6% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Chesterfield County and Colonial Heights City was 104.0% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 11, lower than the average last year, which was 28, a decrease of 61%.

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 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.