The Long & Foster Market Minute

FOCUS ON: BON AIR AND HUGUENOT FARMS HOUSING MARKET APRIL 2024

Zip Code(s): 23235
Units Sold
34
Active Inventory
34
Median Sale Price
$386,000
Days On Market
18
Up 21%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 34 sold this month in Bon Air and Huguenot Farms Real Estate versus 27 last month, an increase of 26%. This month's total units sold was higher than at this time last year, an increase of 21% versus April 2023.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 3%. The total number of active inventory this April was 34 compared to 33 in April 2023. This month's total of 34 is lower than the previous month's total supply of available inventory of 42, a decrease of 19%.

Median Sale Price
Last April, the median sale price for Bon Air and Huguenot Farms Homes was $384,000. This April, the median sale price was $386,000, an increase of 1% or $2,000 compared to last year. The current median sold price is 7% lower than in March.

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


New Listings
31
Current Contracts
33
Sold Vs. List Price
102.0%
Months of Supply
1.0
Down -28%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -1.6%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In April, there was 1.0 months of supply available in Bon Air and Huguenot Farms, compared to 1.2 in April 2023. That is a decrease of 15% 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 31 homes newly listed for sale in Bon Air and Huguenot Farms compared to 43 in April 2023, a decrease of 28%. There were 33 current contracts pending sale this April compared to 37 a year ago. The number of current contracts remained stable as compared to last April.

Sale Price to List Price Ratio
In April, the average sale price in Bon Air and Huguenot Farms was 102.0% of the average list price, which is 1.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 18, higher than the average last year, which was 16, an increase of 13%.

The Long & Foster Market Minute Bon Air and Huguenot Farms are defined as properties listed in zip code/s 23235.
*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.