The Long & Foster Market Minute

Focus On: South Glen Allen Housing Market June 2021

Zip Code(s): 23060
Units Sold
75
Active Inventory
50
Median Sale Price
$415,000
Days On Market
14
Up
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 31%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 75 sold this month in South Glen Allen Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 21 units or 30%. The total number of active inventory this June was 50 compared to 71 in June 2020. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for South Glen Allen Homes was $317,500. This June, the median sale price was $415,000, an increase of $97,500 compared to last year. The current median sold price is 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
86
Current Contracts
80
Sold Vs. List Price
104.3%
Months of Supply
0.7
Up 19%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in South Glen Allen, compared to 1.4 in June 2020. That is a decrease of 51% 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 86 homes newly listed for sale in South Glen Allen compared to 72 in June 2020, an increase of 19%. There were 80 current contracts pending sale this June compared to 78 a year ago. The number of current contracts is 3% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in South Glen Allen was 104.3% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, which is similar compared to a year ago.

The Long & Foster Market Minute South Glen Allen are defined as properties listed in zip code/s 23060.
*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.