The Long & Foster Market Minute

Focus On: Riverdale, Greenwood Farms, and Eastern Hampton City Housing Market June 2021

Zip Code(s): 23661 and 23666
Units Sold
119
Active Inventory
96
Median Sale Price
$235,000
Days On Market
15
Up 10%
Vs. Year Ago
Down -44%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -65%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 119 sold this month in Riverdale, Greenwood Farms, and Eastern Hampton City Real Estate versus 117 last month, an increase of 2%. This month's total units sold was higher than at this time last year, an increase of 10% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 74 units or 44%. The total number of active inventory this June was 96 compared to 170 in June 2020. This month's total of 96 is lower than the previous month's total supply of available inventory of 130, a decrease of 26%.

Median Sale Price
Last June, the median sale price for Riverdale, Greenwood Farms, and Eastern Hampton City Homes was $195,075. This June, the median sale price was $235,000, an increase of 20% or $39,925 compared to last year. The current median sold price is 4% 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
153
Current Contracts
176
Sold Vs. List Price
101.7%
Months of Supply
0.8
Up 37%
Vs. Year Ago
Up 89%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -48%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Riverdale, Greenwood Farms, and Eastern Hampton City, compared to 1.6 in June 2020. That is a decrease of 49% 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 153 homes newly listed for sale in Riverdale, Greenwood Farms, and Eastern Hampton City compared to 112 in June 2020, an increase of 37%. There were 176 current contracts pending sale this June compared to 93 a year ago. The number of current contracts is 89% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Riverdale, Greenwood Farms, and Eastern Hampton City was 101.7% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 43, a decrease of 65%.

The Long & Foster Market Minute Riverdale, Greenwood Farms, and Eastern Hampton City are defined as properties listed in zip code/s 23661 and 23666.
*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.