The Long & Foster Market Minute

Focus On: Eastwood and Mammoth Oak Housing Market June 2021

Zip Code(s): 23602 and 23606
Units Sold
144
Active Inventory
95
Median Sale Price
$263,250
Days On Market
16
Up 22%
Vs. Year Ago
Down -49%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -64%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 144 sold this month in Eastwood and Mammoth Oak Real Estate versus 108 last month, an increase of 33%. This month's total units sold was higher than at this time last year, an increase of 22% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 91 units or 49%. The total number of active inventory this June was 95 compared to 186 in June 2020. This month's total of 95 is lower than the previous month's total supply of available inventory of 116, a decrease of 18%.

Median Sale Price
Last June, the median sale price for Eastwood and Mammoth Oak Homes was $228,500. This June, the median sale price was $263,250, an increase of 15% or $34,750 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
159
Current Contracts
169
Sold Vs. List Price
101.8%
Months of Supply
0.7
Up 19%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Eastwood and Mammoth Oak, compared to 1.6 in June 2020. That is a decrease of 58% 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 159 homes newly listed for sale in Eastwood and Mammoth Oak compared to 134 in June 2020, an increase of 19%. There were 169 current contracts pending sale this June compared to 133 a year ago. The number of current contracts is 27% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Eastwood and Mammoth Oak was 101.8% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 45, a decrease of 64%.

The Long & Foster Market Minute Eastwood and Mammoth Oak are defined as properties listed in zip code/s 23602 and 23606.
*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 REIN 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 REIN or Long & Foster Real Estate, Inc.