The Long & Foster Market Minute

Focus On: Forest Housing Market June 2021

Zip Code(s): 24551
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -7%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 26%
Vs. Year Ago
Down -48%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 65 sold this month in Forest Real Estate versus 51 last month, an increase of 27%. 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 24 units or 30%. The total number of active inventory this June was 57 compared to 81 in June 2020. This month's total of 57 is higher than the previous month's total supply of available inventory of 44, an increase of 30%.

Median Sale Price
Last June, the median sale price for Forest Homes was $300,500. This June, the median sale price was $380,000, an increase of $79,500 compared to last year. The current median sold price is 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 28%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Forest, compared to 1.2 in June 2020. That is a decrease of 24% 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 91 homes newly listed for sale in Forest compared to 71 in June 2020, an increase of 28%. There were 71 current contracts pending sale this June compared to 72 a year ago. The number of current contracts is 1% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Forest was 100.3% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 40, a decrease of 48%.

The Long & Foster Market Minute Forest are defined as properties listed in zip code/s 24551.
*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 LAR 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 LAR or Long & Foster Real Estate, Inc.