The Long & Foster Market Minute

Focus On: Prince Edward County Housing Market June 2021

Units Sold
22
Active Inventory
39
Median Sale Price
$212,450
Days On Market
22
Up 47%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
The number of units sold remained stable in June, with 22 sold this month in Prince Edward County Real Estate. This month's total units sold was higher than at this time last year, an increase of 35% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 33%. The total number of active inventory this June was 39 compared to 58 in June 2020. This month's total of 39 is lower than the previous month's total supply of available inventory of 41, a decrease of 5%.

Median Sale Price
Last June, the median sale price for Prince Edward County Homes was $180,000. This June, the median sale price was $212,450, an increase of 18% or $32,450 compared to last year. The current median sold price is 7% 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
23
Current Contracts
18
Sold Vs. List Price
99.2%
Months of Supply
1.8
Up 35%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -54%
Vs. Year Ago

Months of Supply
In June, there was 1.8 months of supply available in Prince Edward County, compared to 3.9 in June 2020. That is a decrease of 54% 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 23 homes newly listed for sale in Prince Edward County compared to 17 in June 2020, an increase of 35%. There were 18 current contracts pending sale this June compared to 13 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 Prince Edward County was 99.2% of the average list price, which is 2.6% 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 101. 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 SCAR 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 SCAR or Long & Foster Real Estate, Inc.