The Long & Foster Market Minute

Focus On: Front Royal Housing Market June 2021

Zip Code(s): 22630
Units Sold
86
Active Inventory
75
Median Sale Price
$360,000
Days On Market
15
Up
Vs. Year Ago
Down -57%
Vs. Year Ago
Up
Vs. Year Ago
Down -58%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 86 sold this month in Front Royal Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 98 units or 57%. The total number of active inventory this June was 75 compared to 173 in June 2020. This month's total of 75 is higher than the previous month's total supply of available inventory of 65, an increase of 15%.

Median Sale Price
Last June, the median sale price for Front Royal Homes was $250,000. This June, the median sale price was $360,000, an increase of $110,000 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
87
Current Contracts
65
Sold Vs. List Price
99.4%
Months of Supply
0.9
No Change
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -70%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Front Royal, compared to 2.9 in June 2020. That is a decrease of 70% 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 87 homes newly listed for sale in Front Royal, which is similar to the amount in June 2020. There were 65 current contracts pending sale this June compared to 70 a year ago. The number of current contracts is 7% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Front Royal was 99.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 36, a decrease of 58%.

The Long & Foster Market Minute Front Royal are defined as properties listed in zip code/s 22630.
*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.