Spring Valley and Wesley Heights Housing Market Data

There was an increase in total units sold in October, with 48 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.

Versus last year, the total number of homes available this month is lower by 9 units or 7%. The total number of active inventory this October was 121 compared to 130 in October 2017. This month's total of 121 is lower than the previous month's total supply of available inventory of 123, a decrease of 2%.

Last October, the median sale price for Spring Valley and Wesley Heights Homes was $589,950. This October, the median sale price was $970,000, an increase of $380,050 compared to last year. The current median sold price is higher than in September.

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

In October, there was 2.5 months of supply available in Spring Valley and Wesley Heights, compared to 2.2 in October 2017. That is an increase of 16% 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.

This month there were 54 homes newly listed for sale in Spring Valley and Wesley Heights compared to 74 in October 2017, a decrease of 27%. There were 37 current contracts pending sale this October compared to 60 a year ago. The number of current contracts is 38% lower than last October.

In October, the average sale price in Spring Valley and Wesley Heights was 96.8% of the average list price, which is 4.0% lower than at this time last year.

This month, the average number of days on market was 66, higher than the average last year, which was 51, an increase of 29%.





Focus On: Spring Valley and Wesley Heights Housing Market			October 2018

Zip Code(s): 20016
Units Sold 48	Active Inventory 121	Median Sale Price $970,000	Days On Market 66

Down -20% Vs. Year Ago	Down -7% Vs. Year Ago	Up Vs. Year Ago	Up 29% Vs. Year Ago


		Units Sold There was an increase in total units sold in October, with 48 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.
Active Inventory Versus last year, the total number of homes available this month is lower by 9 units or 7%. The total number of active inventory this October was 121 compared to 130 in October 2017. This month's total of 121 is lower than the previous month's total supply of available inventory of 123, a decrease of 2%.
		Median Sale Price Last October, the median sale price for Spring Valley and Wesley Heights Homes was $589,950. This October, the median sale price was $970,000, an increase of $380,050 compared to last year. The current median sold price is higher than in September. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 54	Current Contracts 37	Sold Vs. List Price 96.8%	Months of Supply 2.5

Down -27% Vs. Year Ago	Down -38% Vs. Year Ago	Down -4% Vs. Year Ago	Up 16% Vs. Year Ago


		Months of Supply In October, there was 2.5 months of supply available in Spring Valley and Wesley Heights, compared to 2.2 in October 2017. That is an increase of 16% 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 54 homes newly listed for sale in Spring Valley and Wesley Heights compared to 74 in October 2017, a decrease of 27%. There were 37 current contracts pending sale this October compared to 60 a year ago. The number of current contracts is 38% lower than last October.
		Sale Price to List Price Ratio In October, the average sale price in Spring Valley and Wesley Heights was 96.8% of the average list price, which is 4.0% lower than at this time last year. Days on Market This month, the average number of days on market was 66, higher than the average last year, which was 51, an increase of 29%.


	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.