The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market January 2018

Zip Code(s): 23112
Units Sold
69
Active Inventory
195
Median Sale Price
$280,000
Days On Market
58
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 26%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 69 sold this month in Woodlake and Brandermill Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 9%. The total number of active inventory this January was 195 compared to 214 in January 2017. This month's total of 195 is higher than the previous month's total supply of available inventory of 184, an increase of 6%.

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Median Sale Price
Last January, the median sale price for Woodlake and Brandermill Homes was $224,500. This January, the median sale price was $280,000, an increase of 25% or $55,500 compared to last year. The current median sold price is 1% lower than in December.

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

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New Listings
120
Current Contracts
77
Sold Vs. List Price
100.9%
Months of Supply
2.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 12%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In January, there was 2.8 months of supply available in Woodlake and Brandermill, compared to 4.7 in January 2017. That is a decrease of 39% 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.

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New Listings & Current Contracts
This month there were 120 homes newly listed for sale in Woodlake and Brandermill compared to 107 in January 2017, an increase of 12%. There were 77 current contracts pending sale this January compared to 87 a year ago. The number of current contracts is 11% lower than last January.

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Sale Price to List Price Ratio
In January, the average sale price in Woodlake and Brandermill was 100.9% of the average list price, which is 1.8% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 58, higher than the average last year, which was 46, an increase of 26%.

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The Long & Foster Market Minute Woodlake and Brandermill are defined as properties listed in zip code/s 23112.
*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.