The Long & Foster Market Minute

Focus On: Norview, Greenwood, and Lafayette Annex Housing Market June 2021

Zip Code(s): 23509 and 23513
Units Sold
86
Active Inventory
71
Median Sale Price
$239,500
Days On Market
16
Up 32%
Vs. Year Ago
Down -38%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -68%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 86 sold this month in Norview, Greenwood, and Lafayette Annex Real Estate versus 91 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 32% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 43 units or 38%. The total number of active inventory this June was 71 compared to 114 in June 2020. This month's total of 71 is lower than the previous month's total supply of available inventory of 102, a decrease of 30%.

Median Sale Price
Last June, the median sale price for Norview, Greenwood, and Lafayette Annex Homes was $200,000. This June, the median sale price was $239,500, an increase of 20% or $39,500 compared to last year. The current median sold price is 2% 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
128
Sold Vs. List Price
101.8%
Months of Supply
0.8
Up 41%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 3.3%
Vs. Year Ago
Down -53%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Norview, Greenwood, and Lafayette Annex, compared to 1.8 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 106 homes newly listed for sale in Norview, Greenwood, and Lafayette Annex compared to 75 in June 2020, an increase of 41%. There were 128 current contracts pending sale this June compared to 93 a year ago. The number of current contracts is 38% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Norview, Greenwood, and Lafayette Annex was 101.8% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 16, lower than the average last year, which was 50, a decrease of 68%.

The Long & Foster Market Minute Norview, Greenwood, and Lafayette Annex are defined as properties listed in zip code/s 23509 and 23513.
*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.