The Long & Foster Market Minute

Focus On: Hollywood, Aragona Village, and Kempsville Garden Housing Market June 2021

Zip Code(s): 23462
Units Sold
159
Active Inventory
73
Median Sale Price
$257,275
Days On Market
14
Up
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 159 sold this month in Hollywood, Aragona Village, and Kempsville Garden 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 106 units or 59%. The total number of active inventory this June was 73 compared to 179 in June 2020. This month's total of 73 is lower than the previous month's total supply of available inventory of 140, a decrease of 48%.

Median Sale Price
Last June, the median sale price for Hollywood, Aragona Village, and Kempsville Garden Homes was $227,000. This June, the median sale price was $257,275, an increase of 13% or $30,275 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
150
Current Contracts
205
Sold Vs. List Price
102.4%
Months of Supply
0.5
Up 12%
Vs. Year Ago
Up 71%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -72%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in Hollywood, Aragona Village, and Kempsville Garden, compared to 1.6 in June 2020. That is a decrease of 72% 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 150 homes newly listed for sale in Hollywood, Aragona Village, and Kempsville Garden compared to 134 in June 2020, an increase of 12%. There were 205 current contracts pending sale this June compared to 120 a year ago. The number of current contracts is 71% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Hollywood, Aragona Village, and Kempsville Garden was 102.4% of the average list price, which is 3.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 28, a decrease of 50%.

The Long & Foster Market Minute Hollywood, Aragona Village, and Kempsville Garden are defined as properties listed in zip code/s 23462.
*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.