The Long & Foster Market Minute

Focus On: City of Staunton Housing Market June 2021

Units Sold
80
Active Inventory
43
Median Sale Price
$247,000
Days On Market
20
Up
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -67%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 80 sold this month in City of Staunton 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 23 units or 35%. The total number of active inventory this June was 43 compared to 66 in June 2020. This month's total of 43 is lower than the previous month's total supply of available inventory of 47, a decrease of 9%.

Median Sale Price
Last June, the median sale price for City of Staunton Homes was $220,000. This June, the median sale price was $247,000, an increase of 12% or $27,000 compared to last year. The current median sold price is 5% 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
57
Current Contracts
59
Sold Vs. List Price
100.8%
Months of Supply
0.5
Up 30%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in City of Staunton, compared to 1.2 in June 2020. That is a decrease of 54% 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 57 homes newly listed for sale in City of Staunton compared to 44 in June 2020, an increase of 30%. There were 59 current contracts pending sale this June compared to 47 a year ago. The number of current contracts is 26% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in City of Staunton was 100.8% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 61, a decrease of 67%.

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 CGAHR 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 CGAHR or Long & Foster Real Estate, Inc.