The Long & Foster Market Minute

Focus On: Prince George County Housing Market June 2021

Units Sold
40
Active Inventory
27
Median Sale Price
$280,000
Days On Market
12
Down -13%
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -66%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 40 sold this month in Prince George County Real Estate versus 31 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 13% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 35 units or 56%. The total number of active inventory this June was 27 compared to 62 in June 2020. This month's total of 27 is lower than the previous month's total supply of available inventory of 30, a decrease of 10%.

Median Sale Price
Last June, the median sale price for Prince George County Homes was $227,750. This June, the median sale price was $280,000, an increase of 23% or $52,250 compared to last year. The current median sold price is 8% 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
34
Current Contracts
34
Sold Vs. List Price
102.2%
Months of Supply
0.7
Down -23%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 3.8%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Prince George County, compared to 1.3 in June 2020. That is a decrease of 50% 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 34 homes newly listed for sale in Prince George County compared to 44 in June 2020, a decrease of 23%. There were 34 current contracts pending sale this June compared to 47 a year ago. The number of current contracts is 28% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Prince George County was 102.2% of the average list price, which is 3.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 12, lower than the average last year, which was 35, a decrease of 66%.

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 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.