The Long & Foster Market Minute

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

Zip Code(s): 23323
Units Sold
96
Active Inventory
69
Median Sale Price
$386,750
Days On Market
14
Down -13%
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 96 sold this month in Millville, Deep Creek, and Grassfield Real Estate versus 90 last month, an increase of 7%. This month's total units sold was lower than at this time last year, a decrease of 13% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 100 units or 59%. The total number of active inventory this June was 69 compared to 169 in June 2020. This month's total of 69 is lower than the previous month's total supply of available inventory of 88, a decrease of 22%.

Median Sale Price
Last June, the median sale price for Millville, Deep Creek, and Grassfield Homes was $339,500. This June, the median sale price was $386,750, an increase of 14% or $47,250 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
132
Current Contracts
123
Sold Vs. List Price
102.6%
Months of Supply
0.7
Up 21%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Millville, Deep Creek, and Grassfield, compared to 1.5 in June 2020. That is a decrease of 53% 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 132 homes newly listed for sale in Millville, Deep Creek, and Grassfield compared to 109 in June 2020, an increase of 21%. There were 123 current contracts pending sale this June compared to 115 a year ago. The number of current contracts is 7% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Millville, Deep Creek, and Grassfield was 102.6% of the average list price, which is 2.6% 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 30, 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.