The Long & Foster Market Minute

Focus On: Windsor Farms, The Fan, and Museum District Housing Market June 2018

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
100
Active Inventory
87
Median Sale Price
$340,500
Days On Market
14
Up 10%
Vs. Year Ago
Down -26%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -52%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 100 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 84 last month, an increase of 19%. This month's total units sold was higher than at this time last year, an increase of 10% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 26%. The total number of active inventory this June was 87 compared to 117 in June 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $350,000. This June, the median sale price was $340,500, a decrease of 3% or $9,500 compared to last year. The current median sold price is 8% 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
92
Current Contracts
80
Sold Vs. List Price
100.7%
Months of Supply
0.9
Up 6%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -100%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 1.3 in June 2017. That is a decrease of 32% 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 92 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 87 in June 2017, an increase of 6%. There were 80 current contracts pending sale this June compared to 64 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 Windsor Farms, The Fan, and Museum District was 100.7% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 29, a decrease of 52%.

The Long & Foster Market Minute Windsor Farms, The Fan, and Museum District are defined as properties listed in zip code/s 23221, 23220, 23241 and 23219.
*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.