The Long & Foster Market Minute

Focus On: West End Housing Market June 2021

Zip Code(s): 22302, 22304 and 22311
Units Sold
148
Active Inventory
157
Median Sale Price
$399,000
Days On Market
15
Up 20%
Vs. Year Ago
Up 96%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 148 sold this month in West End Real Estate versus 159 last month, a decrease of 7%. This month's total units sold was higher than at this time last year, an increase of 20% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 77 units or 96%. The total number of active inventory this June was 157 compared to 80 in June 2020. This month's total of 157 is higher than the previous month's total supply of available inventory of 127, an increase of 24%.

Median Sale Price
Last June, the median sale price for West End Homes was $393,500. This June, the median sale price was $399,000, an increase of 1% or $5,500 compared to last year. The current median sold price is 2% 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
196
Current Contracts
133
Sold Vs. List Price
101.0%
Months of Supply
1.1
Up 39%
Vs. Year Ago
Up 9%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Up 63%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in West End, compared to 0.7 in June 2020. That is an increase of 63% 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 196 homes newly listed for sale in West End compared to 141 in June 2020, an increase of 39%. There were 133 current contracts pending sale this June compared to 122 a year ago. The number of current contracts is 9% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in West End was 101.0% of the average list price, which is 0.5% 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 16, a decrease of 6%.

The Long & Foster Market Minute West End are defined as properties listed in zip code/s 22302, 22304 and 22311.
*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.