The Long & Foster Market Minute

Focus On: Millville, Deep Creek, and Grassfield Housing Market March 2021

Zip Code(s): 23323
Units Sold
93
Active Inventory
43
Median Sale Price
$349,900
Days On Market
19
Up 4%
Vs. Year Ago
Down -80%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 93 sold this month in Millville, Deep Creek, and Grassfield 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 167 units or 80%. The total number of active inventory this March was 43 compared to 210 in March 2020. This month's total of 43 is lower than the previous month's total supply of available inventory of 62, a decrease of 31%.

Median Sale Price
Last March, the median sale price for Millville, Deep Creek, and Grassfield Homes was $310,268. This March, the median sale price was $349,900, an increase of 13% or $39,632 compared to last year. The current median sold price is 8% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
129
Current Contracts
131
Sold Vs. List Price
101.8%
Months of Supply
0.5
Up 18%
Vs. Year Ago
Up 66%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -81%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Millville, Deep Creek, and Grassfield, compared to 2.4 in March 2020. That is a decrease of 80% 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 129 homes newly listed for sale in Millville, Deep Creek, and Grassfield compared to 109 in March 2020, an increase of 18%. There were 131 current contracts pending sale this March compared to 79 a year ago. The number of current contracts is 66% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Millville, Deep Creek, and Grassfield was 101.8% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 40, a decrease of 53%.

The Long & Foster Market Minute Millville, Deep Creek, and Grassfield are defined as properties listed in zip code/s 23323.
*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.