The Long & Foster Market Minute

Focus On: East Springfield Housing Market June 2021

Zip Code(s): 22150
Units Sold
30
Active Inventory
17
Median Sale Price
$590,000
Days On Market
7
Up 30%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -42%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 30 sold this month in East Springfield Real Estate versus 27 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 30% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 11%. The total number of active inventory this June was 17 compared to 19 in June 2020. This month's total of 17 is higher than the previous month's total supply of available inventory of 14, an increase of 21%.

Median Sale Price
Last June, the median sale price for East Springfield Homes was $531,000. This June, the median sale price was $590,000, an increase of 11% or $59,000 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
31
Current Contracts
22
Sold Vs. List Price
103.5%
Months of Supply
0.6
Up 11%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -31%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in East Springfield, compared to 0.8 in June 2020. That is a decrease of 31% 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 31 homes newly listed for sale in East Springfield compared to 28 in June 2020, an increase of 11%. There were 22 current contracts pending sale this June compared to 27 a year ago. The number of current contracts is 19% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in East Springfield was 103.5% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 12, a decrease of 42%.

The Long & Foster Market Minute East Springfield are defined as properties listed in zip code/s 22150.
*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.