The Long & Foster Market Minute

Focus On: Willow Lake, Raleigh Place, and Green Acres Housing Market June 2021

Zip Code(s): 23321
Units Sold
93
Active Inventory
70
Median Sale Price
$285,000
Days On Market
20
Up 2%
Vs. Year Ago
Down -55%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 93 sold this month in Willow Lake, Raleigh Place, and Green Acres Real Estate versus 76 last month, an increase of 22%. This month's total units sold was higher than at this time last year, an increase of 2% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 86 units or 55%. The total number of active inventory this June was 70 compared to 156 in June 2020. This month's total of 70 is lower than the previous month's total supply of available inventory of 106, a decrease of 34%.

Median Sale Price
Last June, the median sale price for Willow Lake, Raleigh Place, and Green Acres Homes was $290,000. This June, the median sale price was $285,000, a decrease of 2% or $5,000 compared to last year. The current median sold price is 10% 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
91
Current Contracts
119
Sold Vs. List Price
101.7%
Months of Supply
0.8
Up 5%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 2.1%
Vs. Year Ago
Down -56%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Willow Lake, Raleigh Place, and Green Acres, compared to 1.7 in June 2020. That is a decrease of 56% 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 91 homes newly listed for sale in Willow Lake, Raleigh Place, and Green Acres compared to 87 in June 2020, an increase of 5%. There were 119 current contracts pending sale this June compared to 95 a year ago. The number of current contracts is 25% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Willow Lake, Raleigh Place, and Green Acres was 101.7% of the average list price, which is 2.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 41, a decrease of 51%.

The Long & Foster Market Minute Willow Lake, Raleigh Place, and Green Acres are defined as properties listed in zip code/s 23321.
*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.