The Long & Foster Market Minute

Focus On: Snell, Spotsylvania, and Partlow Housing Market June 2021

Zip Code(s): 22553, 22551 and 22534
Units Sold
85
Active Inventory
92
Median Sale Price
$380,000
Days On Market
7
Up 4%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -82%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 85 sold this month in Snell, Spotsylvania, and Partlow Real Estate versus 76 last month, an increase of 12%. This month's total units sold was higher than at this time last year, an increase of 4% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 24%. The total number of active inventory this June was 92 compared to 121 in June 2020. This month's total of 92 is lower than the previous month's total supply of available inventory of 93, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Snell, Spotsylvania, and Partlow Homes was $315,000. This June, the median sale price was $380,000, an increase of 21% or $65,000 compared to last year. The current median sold price is 1% 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
105
Current Contracts
87
Sold Vs. List Price
102.0%
Months of Supply
1.1
Up 17%
Vs. Year Ago
No Change
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Snell, Spotsylvania, and Partlow, compared to 1.5 in June 2020. That is a decrease of 27% 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 105 homes newly listed for sale in Snell, Spotsylvania, and Partlow compared to 90 in June 2020, an increase of 17%. There were 87 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 6% higher than last month.

Sale Price to List Price Ratio
In June, the average sale price in Snell, Spotsylvania, and Partlow was 102.0% 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 7, lower than the average last year, which was 39, a decrease of 82%.

The Long & Foster Market Minute Snell, Spotsylvania, and Partlow are defined as properties listed in zip code/s 22553, 22551 and 22534.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.