The Long & Foster Market Minute

Focus On: Poquoson City Housing Market June 2021

Units Sold
28
Active Inventory
25
Median Sale Price
$352,500
Days On Market
25
Up 27%
Vs. Year Ago
Down -60%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 28 sold this month in Poquoson City Real Estate versus 26 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 27% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 60%. The total number of active inventory this June was 25 compared to 63 in June 2020. This month's total of 25 is lower than the previous month's total supply of available inventory of 32, a decrease of 22%.

Median Sale Price
Last June, the median sale price for Poquoson City Homes was $315,750. This June, the median sale price was $352,500, an increase of 12% or $36,750 compared to last year. The current median sold price is 3% 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
31
Current Contracts
34
Sold Vs. List Price
100.8%
Months of Supply
0.9
Down -3%
Vs. Year Ago
Up 13%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Poquoson City, compared to 2.9 in June 2020. That is a decrease of 69% 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 31 homes newly listed for sale in Poquoson City compared to 32 in June 2020, a decrease of 3%. There were 34 current contracts pending sale this June compared to 30 a year ago. The number of current contracts is 13% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Poquoson City was 100.8% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 65. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute
*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.