The Long & Foster Market Minute

Focus On: Mechanicsville Housing Market June 2021

Zip Code(s): 23111 and 23116
Units Sold
138
Active Inventory
151
Median Sale Price
$360,000
Days On Market
10
Up 2%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -67%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 138 sold this month in Mechanicsville Real Estate versus 141 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 2% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 101 units or 40%. The total number of active inventory this June was 151 compared to 252 in June 2020. This month's total of 151 is lower than the previous month's total supply of available inventory of 153, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Mechanicsville Homes was $315,000. This June, the median sale price was $360,000, an increase of 14% or $45,000 compared to last year. The current median sold price is 7% 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
159
Current Contracts
146
Sold Vs. List Price
103.2%
Months of Supply
1.1
Down -2%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 3.6%
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Mechanicsville, compared to 1.9 in June 2020. That is a decrease of 41% 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 159 homes newly listed for sale in Mechanicsville compared to 163 in June 2020, a decrease of 2%. There were 146 current contracts pending sale this June compared to 149 a year ago. The number of current contracts is 2% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Mechanicsville was 103.2% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 30, a decrease of 67%.

The Long & Foster Market Minute Mechanicsville are defined as properties listed in zip code/s 23111 and 23116.
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.