The Long & Foster Market Minute

Focus On: Herndon Housing Market June 2021

Zip Code(s): 20170 and 20171
Units Sold
158
Active Inventory
91
Median Sale Price
$627,500
Days On Market
8
Up
Vs. Year Ago
Up 18%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 158 sold this month in Herndon 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 higher by 14 units or 18%. The total number of active inventory this June was 91 compared to 77 in June 2020. This month's total of 91 is lower than the previous month's total supply of available inventory of 92, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Herndon Homes was $593,708. This June, the median sale price was $627,500, an increase of 6% or $33,792 compared to last year. The current median sold price is 2% 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
187
Current Contracts
162
Sold Vs. List Price
103.1%
Months of Supply
0.6
Up 73%
Vs. Year Ago
Up 43%
Vs. Year Ago
Up 3.1%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Herndon, compared to 0.7 in June 2020. That is a decrease of 19% 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 187 homes newly listed for sale in Herndon compared to 108 in June 2020, an increase of 73%. There were 162 current contracts pending sale this June compared to 113 a year ago. The number of current contracts is 43% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Herndon was 103.1% of the average list price, which is 3.1% 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 15, a decrease of 47%.

The Long & Foster Market Minute Herndon are defined as properties listed in zip code/s 20170 and 20171.
*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.