The Long & Foster Market Minute

Focus On: Westover, Essex Meadows, and Greenbrier Housing Market June 2021

Zip Code(s): 23320 and 23328
Units Sold
185
Active Inventory
78
Median Sale Price
$301,000
Days On Market
11
Up 30%
Vs. Year Ago
Down -58%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -69%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 185 sold this month in Westover, Essex Meadows, and Greenbrier Real Estate versus 147 last month, an increase of 26%. This month's total units sold was higher than at this time last year, an increase of 30% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 107 units or 58%. The total number of active inventory this June was 78 compared to 185 in June 2020. This month's total of 78 is lower than the previous month's total supply of available inventory of 113, a decrease of 31%.

Median Sale Price
Last June, the median sale price for Westover, Essex Meadows, and Greenbrier Homes was $260,450. This June, the median sale price was $301,000, an increase of 16% or $40,550 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
162
Current Contracts
190
Sold Vs. List Price
102.7%
Months of Supply
0.4
Up 18%
Vs. Year Ago
Up 48%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Westover, Essex Meadows, and Greenbrier, compared to 1.3 in June 2020. That is a decrease of 68% 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 162 homes newly listed for sale in Westover, Essex Meadows, and Greenbrier compared to 137 in June 2020, an increase of 18%. There were 190 current contracts pending sale this June compared to 128 a year ago. The number of current contracts is 48% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Westover, Essex Meadows, and Greenbrier was 102.7% of the average list price, which is 3.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 11, lower than the average last year, which was 35, a decrease of 69%.

The Long & Foster Market Minute Westover, Essex Meadows, and Greenbrier are defined as properties listed in zip code/s 23320 and 23328.
*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.