The Long & Foster Market Minute

Focus On: Southcreek Housing Market June 2021

Zip Code(s): 23114
Units Sold
37
Active Inventory
25
Median Sale Price
$410,000
Days On Market
8
Up 3%
Vs. Year Ago
Down -42%
Vs. Year Ago
Up
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 37 sold this month in Southcreek Real Estate versus 42 last month, a decrease of 12%. This month's total units sold was higher than at this time last year, an increase of 3% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 42%. The total number of active inventory this June was 25 compared to 43 in June 2020. This month's total of 25 is higher than the previous month's total supply of available inventory of 18, an increase of 39%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Southcreek Homes was $320,625. This June, the median sale price was $410,000, an increase of $89,375 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
51
Current Contracts
44
Sold Vs. List Price
104.7%
Months of Supply
0.7
Up 38%
Vs. Year Ago
Up 22%
Vs. Year Ago
Up 4.6%
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Southcreek, compared to 1.2 in June 2020. That is a decrease of 43% 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 51 homes newly listed for sale in Southcreek compared to 37 in June 2020, an increase of 38%. There were 44 current contracts pending sale this June compared to 36 a year ago. The number of current contracts is 22% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Southcreek was 104.7% of the average list price, which is 4.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 18. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Southcreek are defined as properties listed in zip code/s 23114.
*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.