The Long & Foster Market Minute

Focus On: Glen Allen Housing Market June 2021

Zip Code(s): 23059 and 23060
Units Sold
157
Active Inventory
105
Median Sale Price
$465,000
Days On Market
12
Up 30%
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 157 sold this month in Glen Allen Real Estate versus 122 last month, an increase of 29%. This month's total units sold was higher than at this time last year, an increase of 30% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 150 units or 59%. The total number of active inventory this June was 105 compared to 255 in June 2020. This month's total of 105 is lower than the previous month's total supply of available inventory of 109, a decrease of 4%.

Median Sale Price
Last June, the median sale price for Glen Allen Homes was $395,000. This June, the median sale price was $465,000, an increase of 18% or $70,000 compared to last year. The current median sold price is 14% 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
182
Current Contracts
170
Sold Vs. List Price
104.4%
Months of Supply
0.7
Up 3%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Glen Allen, compared to 2.1 in June 2020. That is a decrease of 68% 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 182 homes newly listed for sale in Glen Allen compared to 176 in June 2020, an increase of 3%. There were 170 current contracts pending sale this June compared to 180 a year ago. The number of current contracts is 6% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Glen Allen was 104.4% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 27, a decrease of 56%.

The Long & Foster Market Minute Glen Allen are defined as properties listed in zip code/s 23059 and 23060.
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.