The Long & Foster Market Minute

Focus On: Falmouth, Hartwood, and Northern Fredericksburg Housing Market June 2021

Zip Code(s): 22471, 22406, 22403 and 22405
Units Sold
162
Active Inventory
92
Median Sale Price
$430,000
Days On Market
8
Down -7%
Vs. Year Ago
Down -49%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -76%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 162 sold this month in Falmouth, Hartwood, and Northern Fredericksburg Real Estate versus 140 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 7% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 90 units or 49%. The total number of active inventory this June was 92 compared to 182 in June 2020. This month's total of 92 is higher than the previous month's total supply of available inventory of 70, an increase of 31%.

Median Sale Price
Last June, the median sale price for Falmouth, Hartwood, and Northern Fredericksburg Homes was $376,000. This June, the median sale price was approximately the same at $430,000. The current median sold price is 14% higher than in June 2020.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
176
Current Contracts
129
Sold Vs. List Price
102.9%
Months of Supply
0.6
Up 35%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Falmouth, Hartwood, and Northern Fredericksburg, compared to 1.0 in June 2020. That is a decrease of 46% 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 176 homes newly listed for sale in Falmouth, Hartwood, and Northern Fredericksburg compared to 130 in June 2020, an increase of 35%. There were 129 current contracts pending sale this June compared to 120 a year ago. The number of current contracts is 8% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Falmouth, Hartwood, and Northern Fredericksburg was 102.9% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 33, a decrease of 76%.

The Long & Foster Market Minute Falmouth, Hartwood, and Northern Fredericksburg are defined as properties listed in zip code/s 22471, 22406, 22403 and 22405.
*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.