The Long & Foster Market Minute

Focus On: Lexington Housing Market June 2021

Zip Code(s): 24450
Units Sold
33
Active Inventory
39
Median Sale Price
$325,000
Days On Market
43
Up
Vs. Year Ago
Down -51%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 33 sold this month in Lexington Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 51%. The total number of active inventory this June was 39 compared to 79 in June 2020. This month's total of 39 is higher than the previous month's total supply of available inventory of 31, an increase of 26%.

Median Sale Price
Last June, the median sale price for Lexington Homes was $274,666. This June, the median sale price was $325,000, an increase of 18% or $50,334 compared to last year. The current median sold price is 21% 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
33
Current Contracts
22
Sold Vs. List Price
98.2%
Months of Supply
1.2
Up 83%
Vs. Year Ago
No Change
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Lexington, compared to 4.4 in June 2020. That is a decrease of 73% 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 33 homes newly listed for sale in Lexington compared to 18 in June 2020, an increase of 83%. There were 22 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 27% lower than last month.

Sale Price to List Price Ratio
In June, the average sale price in Lexington was 98.2% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 81, a decrease of 47%.

The Long & Foster Market Minute Lexington are defined as properties listed in zip code/s 24450.
*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 RHRA 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 RHRA or Long & Foster Real Estate, Inc.