The Long & Foster Market Minute

Focus On: River Terrace, Buckroe Beach, and Western Hampton City Housing Market June 2021

Zip Code(s): 23663, 23664, 23667, 23668 and 23669
Units Sold
123
Active Inventory
113
Median Sale Price
$250,000
Days On Market
21
Down -4%
Vs. Year Ago
Down -45%
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 123 sold this month in River Terrace, Buckroe Beach, and Western Hampton City Real Estate versus 114 last month, an increase of 8%. This month's total units sold was lower than at this time last year, a decrease of 4% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 91 units or 45%. The total number of active inventory this June was 113 compared to 204 in June 2020. This month's total of 113 is lower than the previous month's total supply of available inventory of 129, a decrease of 12%.

Median Sale Price
Last June, the median sale price for River Terrace, Buckroe Beach, and Western Hampton City Homes was $203,500. This June, the median sale price was $250,000, an increase of 23% or $46,500 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
169
Current Contracts
171
Sold Vs. List Price
101.5%
Months of Supply
0.9
Up 42%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 3.8%
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in River Terrace, Buckroe Beach, and Western Hampton City, compared to 1.6 in June 2020. That is a decrease of 42% 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 169 homes newly listed for sale in River Terrace, Buckroe Beach, and Western Hampton City compared to 119 in June 2020, an increase of 42%. There were 171 current contracts pending sale this June compared to 138 a year ago. The number of current contracts is 24% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in River Terrace, Buckroe Beach, and Western Hampton City was 101.5% 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 21, lower than the average last year, which was 61, a decrease of 66%.

The Long & Foster Market Minute River Terrace, Buckroe Beach, and Western Hampton City are defined as properties listed in zip code/s 23663, 23664, 23667, 23668 and 23669.
*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.