The Long & Foster Market Minute

Focus On: Northern Mechanicsville, Ashland, and Montpelier Housing Market March 2021

Zip Code(s): 23005, 23015, 23047, 23069, 23116, 23146 and 23192
Units Sold
108
Active Inventory
217
Median Sale Price
$382,000
Days On Market
22
No Change
Vs. Year Ago
Down -44%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 108 sold this month in Northern Mechanicsville, Ashland, and Montpelier Real Estate, an increase of 21%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 173 units or 44%. The total number of active inventory this March was 217 compared to 390 in March 2020. This month's total of 217 is lower than the previous month's total supply of available inventory of 234, a decrease of 7%.

Median Sale Price
Last March, the median sale price for Northern Mechanicsville, Ashland, and Montpelier Homes was $350,000. This March, the median sale price was $382,000, an increase of 9% or $32,000 compared to last year. The current median sold price is 3% 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
171
Current Contracts
166
Sold Vs. List Price
100.9%
Months of Supply
2.0
Down -15%
Vs. Year Ago
Up 43%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -44%
Vs. Year Ago

Months of Supply
In March, there was 2.0 months of supply available in Northern Mechanicsville, Ashland, and Montpelier, compared to 3.6 in March 2020. That is a decrease of 44% 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 171 homes newly listed for sale in Northern Mechanicsville, Ashland, and Montpelier compared to 200 in March 2020, a decrease of 14%. There were 166 current contracts pending sale this March compared to 116 a year ago. The number of current contracts is 43% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Northern Mechanicsville, Ashland, and Montpelier was 100.9% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 45, a decrease of 51%.

The Long & Foster Market Minute Northern Mechanicsville, Ashland, and Montpelier are defined as properties listed in zip code/s 23005, 23015, 23047, 23069, 23116, 23146 and 23192.
*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.