The Long & Foster Market Minute

Focus On: Occoquan, Lake Ridge, and Northern Woodbridge Housing Market June 2021

Zip Code(s): 22192, 22125 and 22195
Units Sold
146
Active Inventory
65
Median Sale Price
$405,000
Days On Market
7
Up 21%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -67%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 146 sold this month in Occoquan, Lake Ridge, and Northern Woodbridge Real Estate versus 113 last month, an increase of 29%. This month's total units sold was higher than at this time last year, an increase of 21% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 18 units or 38%. The total number of active inventory this June was 65 compared to 47 in June 2020. This month's total of 65 is higher than the previous month's total supply of available inventory of 54, an increase of 20%.

Median Sale Price
Last June, the median sale price for Occoquan, Lake Ridge, and Northern Woodbridge Homes was $374,000. This June, the median sale price was $405,000, an increase of 8% or $31,000 compared to last year. The current median sold price is 8% lower 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
143
Current Contracts
120
Sold Vs. List Price
103.6%
Months of Supply
0.4
Up 40%
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 3.9%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Occoquan, Lake Ridge, and Northern Woodbridge. 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 143 homes newly listed for sale in Occoquan, Lake Ridge, and Northern Woodbridge compared to 102 in June 2020, an increase of 40%. There were 120 current contracts pending sale this June compared to 100 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Occoquan, Lake Ridge, and Northern Woodbridge was 103.6% of the average list price, which is 3.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 21, a decrease of 67%.

The Long & Foster Market Minute Occoquan, Lake Ridge, and Northern Woodbridge are defined as properties listed in zip code/s 22192, 22125 and 22195.
*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.