The Long & Foster Market Minute

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

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
56
Active Inventory
71
Median Sale Price
$378,500
Days On Market
20
Up 10%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 56 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 64 last month, a decrease of 13%. This month's total units sold was higher than at this time last year, an increase of 10% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 25 units or 26%. The total number of active inventory this April was 71 compared to 96 in April 2017. This month's total of 71 is lower than the previous month's total supply of available inventory of 76, a decrease of 7%.

Median Sale Price
Last April, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $329,900. This April, the median sale price was $378,500, an increase of $48,600 compared to last year. The current median sold price is higher than in March.

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


New Listings
96
Current Contracts
95
Sold Vs. List Price
100.9%
Months of Supply
1.3
Up 12%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In April, there was 1.3 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 1.9 in April 2017. That is a decrease of 33% 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 96 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 86 in April 2017, an increase of 12%. There were 95 current contracts pending sale this April compared to 74 a year ago. The number of current contracts is 28% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Windsor Farms, The Fan, and Museum District was 100.9% of the average list price, which is 1.6% 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 33, a decrease of 39%.

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.