The Long & Foster Market Minute

Focus On: Mount Vernon and Fort Hunt Housing Market June 2021

Zip Code(s): 22308 and 22309
Units Sold
98
Active Inventory
61
Median Sale Price
$692,500
Days On Market
13
Up
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 98 sold this month in Mount Vernon and Fort Hunt 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 8 units or 12%. The total number of active inventory this June was 61 compared to 69 in June 2020. This month's total of 61 is lower than the previous month's total supply of available inventory of 65, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Mount Vernon and Fort Hunt Homes was $620,000. This June, the median sale price was $692,500, an increase of 12% or $72,500 compared to last year. The current median sold price is 4% 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
106
Current Contracts
81
Sold Vs. List Price
103.1%
Months of Supply
0.6
Up 38%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Mount Vernon and Fort Hunt, compared to 1.0 in June 2020. That is a decrease of 37% 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 106 homes newly listed for sale in Mount Vernon and Fort Hunt compared to 77 in June 2020, an increase of 38%. There were 81 current contracts pending sale this June compared to 71 a year ago. The number of current contracts is 14% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Mount Vernon and Fort Hunt was 103.1% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 19, a decrease of 32%.

The Long & Foster Market Minute Mount Vernon and Fort Hunt are defined as properties listed in zip code/s 22308 and 22309.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.