The Long & Foster Market Minute

Focus On: Forest Hills, Great Neck Estates, and Robinwood Forrest Housing Market June 2021

Zip Code(s): 23454
Units Sold
127
Active Inventory
60
Median Sale Price
$360,000
Days On Market
15
Up 12%
Vs. Year Ago
Down -63%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 127 sold this month in Forest Hills, Great Neck Estates, and Robinwood Forrest Real Estate versus 100 last month, an increase of 27%. This month's total units sold was higher than at this time last year, an increase of 12% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 104 units or 63%. The total number of active inventory this June was 60 compared to 164 in June 2020. This month's total of 60 is lower than the previous month's total supply of available inventory of 98, a decrease of 39%.

Median Sale Price
Last June, the median sale price for Forest Hills, Great Neck Estates, and Robinwood Forrest Homes was $335,000. This June, the median sale price was $360,000, an increase of 7% or $25,000 compared to last year. The current median sold price is 4% lower 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
122
Current Contracts
143
Sold Vs. List Price
101.2%
Months of Supply
0.5
Up 3%
Vs. Year Ago
Up 29%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in Forest Hills, Great Neck Estates, and Robinwood Forrest, compared to 1.5 in June 2020. That is a decrease of 67% 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 122 homes newly listed for sale in Forest Hills, Great Neck Estates, and Robinwood Forrest compared to 119 in June 2020, an increase of 3%. There were 143 current contracts pending sale this June compared to 111 a year ago. The number of current contracts is 29% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Forest Hills, Great Neck Estates, and Robinwood Forrest was 101.2% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 30, a decrease of 50%.

The Long & Foster Market Minute Forest Hills, Great Neck Estates, and Robinwood Forrest are defined as properties listed in zip code/s 23454.
*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.