The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market March 2018

Zip Code(s): 23112
Units Sold
91
Active Inventory
194
Median Sale Price
$275,000
Days On Market
42
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -23%
Vs. Year Ago
Down -22%
Vs. Year Ago
No Change
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 91 sold this month in Woodlake and Brandermill Real Estate. This month's total units sold was lower 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 55 units or 22%. The total number of active inventory this March was 194 compared to 249 in March 2017. This month's total of 194 is lower than the previous month's total supply of available inventory of 216, a decrease of 10%.

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Median Sale Price
Last March, the median sale price for Woodlake and Brandermill Homes was $276,000. This March, the median sale price was $275,000, which is similar compared to a year ago. The current median sold price is 4% lower than in February.

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
169
Current Contracts
152
Sold Vs. List Price
100.6%
Months of Supply
2.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -12%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In March, there was 2.1 months of supply available in Woodlake and Brandermill. The amount of supply is similar compared to 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 169 homes newly listed for sale in Woodlake and Brandermill compared to 193 in March 2017, a decrease of 12%. There were 152 current contracts pending sale this March compared to 142 a year ago. The number of current contracts is 7% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Woodlake and Brandermill was 100.6% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 43, a decrease of 2%.

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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.