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FOCUS ON: SPRING VALLEY AND WESLEY HEIGHTS HOUSING MARKET |
JUNE 2025 |
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Zip Code(s): 20016 |
Units Sold
49 |
Active Inventory
130 |
Median Sale Price
$1,300,000 |
Days On Market
23 |
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Down -9%
Vs. Year Ago |
Up 15%
Vs. Year Ago |
Up 3%
Vs. Year Ago |
No Change
Vs. Year Ago |
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Units Sold
There was an increase in total units sold in June, with 49 sold this month in Spring Valley and Wesley Heights 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 higher by 17 units or 15%. The total number of active inventory this June was 130 compared to 113 in June 2024. This month's total of 130 is lower than the previous month's total supply of available inventory of 156, a decrease of 17%.
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Median Sale Price
Last June, the median sale price for Spring Valley and Wesley Heights Homes was $1,257,000. This June, the median sale price was $1,300,000, an increase of 3% or $43,000 compared to last year. The current median sold price is 13% higher 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.
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New Listings
37 |
Current Contracts
34 |
Sold Vs. List Price
97.6% |
Months of Supply
2.7 |
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Down -34%
Vs. Year Ago |
Down -24%
Vs. Year Ago |
Down -4.2%
Vs. Year Ago |
Up 27%
Vs. Year Ago |
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Months of Supply
In June, there was 2.7 months of supply available in Spring Valley and Wesley Heights, compared to 2.1 in June 2024. That is an increase of 27% 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 37 homes newly listed for sale in Spring Valley and Wesley Heights compared to 56 in June 2024, a decrease of 34%. There were 34 current contracts pending sale this June compared to 45 a year ago. The number of current contracts is 24% lower than last June.
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Sale Price to List Price Ratio
In June, the average sale price in Spring Valley and Wesley Heights was 97.6% of the average list price, which is 4.3% lower than at this time last year.
Days on Market
This month, the average number of days on market was 23, which is similar compared to a year ago.
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Spring Valley and Wesley Heights is defined as properties in zip code 20016 and includes, but is not limited to these neighborhoods: Spring Valley, Wesley Heights, and AU Park. |
*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. |
Information included in this report is based on data supplied by BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc. |