The Long & Foster Market Minute

Focus On: Hodges Manor, Simonsdale, and Loxley Place Housing Market June 2021

Zip Code(s): 23701 and 23702
Units Sold
100
Active Inventory
73
Median Sale Price
$221,000
Days On Market
34
Up 27%
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 100 sold this month in Hodges Manor, Simonsdale, and Loxley Place Real Estate versus 93 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 27% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 60 units or 45%. The total number of active inventory this June was 73 compared to 133 in June 2020. This month's total of 73 is lower than the previous month's total supply of available inventory of 114, a decrease of 36%.

Median Sale Price
Last June, the median sale price for Hodges Manor, Simonsdale, and Loxley Place Homes was $178,000. This June, the median sale price was $221,000, an increase of 24% or $43,000 compared to last year. The current median sold price is 11% 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
106
Current Contracts
123
Sold Vs. List Price
100.5%
Months of Supply
0.7
Up 58%
Vs. Year Ago
Up 52%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -57%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Hodges Manor, Simonsdale, and Loxley Place, compared to 1.7 in June 2020. That is a decrease of 57% 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 106 homes newly listed for sale in Hodges Manor, Simonsdale, and Loxley Place compared to 67 in June 2020, an increase of 58%. There were 123 current contracts pending sale this June compared to 81 a year ago. The number of current contracts is 52% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Hodges Manor, Simonsdale, and Loxley Place was 100.5% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 53, a decrease of 36%.

The Long & Foster Market Minute Hodges Manor, Simonsdale, and Loxley Place are defined as properties listed in zip code/s 23701 and 23702.
*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.