The Long & Foster Market Minute

Focus On: North Springfield Housing Market June 2021

Zip Code(s): 22151
Units Sold
21
Active Inventory
12
Median Sale Price
$650,000
Days On Market
5
Up 31%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 21 sold this month in North Springfield Real Estate versus 28 last month, a decrease of 25%. This month's total units sold was higher than at this time last year, an increase of 31% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 20%. The total number of active inventory this June was 12 compared to 10 in June 2020. This month's total of 12 is higher than the previous month's total supply of available inventory of 7, an increase of 71%.

Median Sale Price
Last June, the median sale price for North Springfield Homes was $549,950. This June, the median sale price was $650,000, an increase of 18% or $100,050 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
25
Current Contracts
16
Sold Vs. List Price
103.6%
Months of Supply
0.6
No Change
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in North Springfield. The amount of supply is similar compared to 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 25 homes newly listed for sale in North Springfield, which is similar to the amount in June 2020. There were 16 current contracts pending sale this June compared to 26 a year ago. The number of current contracts is 38% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in North Springfield was 103.6% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 5, lower than the average last year, which was 13. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute North Springfield are defined as properties listed in zip code/s 22151.
*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.