The Long & Foster Market Minute

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

Zip Code(s): 23005, 23015, 23047, 23069, 23116, 23146 and 23192
Units Sold
134
Active Inventory
218
Median Sale Price
$432,500
Days On Market
14
Up 10%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 31%
Vs. Year Ago
Down -59%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 134 sold this month in Northern Mechanicsville, Ashland, and Montpelier Real Estate versus 137 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 10% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 149 units or 41%. The total number of active inventory this June was 218 compared to 367 in June 2020. This month's total of 218 is lower than the previous month's total supply of available inventory of 247, a decrease of 12%.

Median Sale Price
Last June, the median sale price for Northern Mechanicsville, Ashland, and Montpelier Homes was $329,250. This June, the median sale price was $432,500, an increase of $103,250 compared to last year. The current median sold price is 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
142
Current Contracts
153
Sold Vs. List Price
103.3%
Months of Supply
1.6
Down -15%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 3.8%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In June, there was 1.6 months of supply available in Northern Mechanicsville, Ashland, and Montpelier, compared to 3.0 in June 2020. That is a decrease of 46% 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 142 homes newly listed for sale in Northern Mechanicsville, Ashland, and Montpelier compared to 167 in June 2020, a decrease of 15%. There were 153 current contracts pending sale this June compared to 145 a year ago. The number of current contracts is 6% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Northern Mechanicsville, Ashland, and Montpelier was 103.3% of the average list price, which is 3.8% 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 34, a decrease of 59%.

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.