The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market June 2020

Zip Code(s): 23112
Units Sold
131
Active Inventory
169
Median Sale Price
$286,500
Days On Market
30
Down -7%
Vs. Year Ago
Down -42%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 131 sold this month in Woodlake and Brandermill Real Estate versus 105 last month, an increase of 25%. This month's total units sold was lower than at this time last year, a decrease of 7% versus June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 120 units or 42%. The total number of active inventory this June was 169 compared to 289 in June 2019. This month's total of 169 is lower than the previous month's total supply of available inventory of 191, a decrease of 12%.

Median Sale Price
Last June, the median sale price for Woodlake and Brandermill Homes was $297,000. This June, the median sale price was $286,500, a decrease of 4% or $10,500 compared to last year. The current median sold price is 5% 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
168
Current Contracts
155
Sold Vs. List Price
100.3%
Months of Supply
1.3
Up 28%
Vs. Year Ago
Up 31%
Vs. Year Ago
No Change
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Woodlake and Brandermill, compared to 2.0 in June 2019. That is a decrease of 37% 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 168 homes newly listed for sale in Woodlake and Brandermill compared to 131 in June 2019, an increase of 28%. There were 155 current contracts pending sale this June compared to 118 a year ago. The number of current contracts is 31% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Woodlake and Brandermill was 100.3% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 30, higher than the average last year, which was 27, an increase of 11%.

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.