The Long & Foster Market Minute

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

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
50
Active Inventory
110
Median Sale Price
$294,975
Days On Market
22
Down -15%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 50 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 43 last month, an increase of 16%. This month's total units sold was lower than at this time last year, a decrease of 15% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 21%. The total number of active inventory this October was 110 compared to 140 in October 2017. This month's total of 110 is lower than the previous month's total supply of available inventory of 124, a decrease of 11%.

Median Sale Price
Last October, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $267,000. This October, the median sale price was $294,975, an increase of 10% or $27,975 compared to last year. The current median sold price is 10% higher than in September.

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


New Listings
59
Current Contracts
49
Sold Vs. List Price
98.3%
Months of Supply
2.2
Down -8%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -2.3%
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In October, there was 2.2 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 2.4 in October 2017. That is a decrease of 7% 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 59 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 64 in October 2017, a decrease of 8%. There were 49 current contracts pending sale this October compared to 46 a year ago. The number of current contracts is 7% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Windsor Farms, The Fan, and Museum District was 98.3% of the average list price, which is 2.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 25, a decrease of 12%.

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.