The Long & Foster Market Minute

Focus On: Lamberts Point, Ghent, and Alt Housing Market June 2021

Zip Code(s): 23508, 23517, 23507, 23501, 23510 and 23514
Units Sold
100
Active Inventory
121
Median Sale Price
$342,500
Days On Market
23
Up
Vs. Year Ago
Down -23%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -48%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 100 sold this month in Lamberts Point, Ghent, and Alt 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 37 units or 23%. The total number of active inventory this June was 121 compared to 158 in June 2020. This month's total of 121 is lower than the previous month's total supply of available inventory of 150, a decrease of 19%.

Median Sale Price
Last June, the median sale price for Lamberts Point, Ghent, and Alt Homes was $329,000. This June, the median sale price was $342,500, an increase of 4% or $13,500 compared to last year. The current median sold price is 4% 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
110
Current Contracts
116
Sold Vs. List Price
100.8%
Months of Supply
1.2
Up 38%
Vs. Year Ago
Up 68%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Lamberts Point, Ghent, and Alt, compared to 2.4 in June 2020. That is a decrease of 50% 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 110 homes newly listed for sale in Lamberts Point, Ghent, and Alt compared to 80 in June 2020, an increase of 38%. There were 116 current contracts pending sale this June compared to 69 a year ago. The number of current contracts is 68% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Lamberts Point, Ghent, and Alt was 100.8% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 44, a decrease of 48%.

The Long & Foster Market Minute Lamberts Point, Ghent, and Alt are defined as properties listed in zip code/s 23508, 23517, 23507, 23501, 23510 and 23514.
*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.