The Long & Foster Market Minute

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

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
66
Active Inventory
109
Median Sale Price
$312,000
Days On Market
19
Down -20%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 66 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 81 last month, a decrease of 19%. This month's total units sold was lower than at this time last year, a decrease of 20% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 4%. The total number of active inventory this August was 109 compared to 114 in August 2017. This month's total of 109 is higher than the previous month's total supply of available inventory of 101, an increase of 8%.

Median Sale Price
Last August, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $349,000. This August, the median sale price was $312,000, a decrease of 11% or $37,000 compared to last year. The current median sold price is 19% lower than in July.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
71
Current Contracts
54
Sold Vs. List Price
99.4%
Months of Supply
1.7
Down -4%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 19%
Vs. Year Ago

Months of Supply
In August, there was 1.7 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 1.4 in August 2017. That is an increase of 19% 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 71 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 74 in August 2017, a decrease of 4%. There were 54 current contracts pending sale this August compared to 43 a year ago. The number of current contracts is 26% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Windsor Farms, The Fan, and Museum District was 99.4% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 19, lower than the average last year, which was 22, a decrease of 14%.

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.