The Long & Foster Market Minute

Focus On: East End Housing Market September 2021

Zip Code(s): 23223
Units Sold
71
Active Inventory
71
Median Sale Price
$277,000
Days On Market
14
Up 25%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -26%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 71 sold this month in East End Real Estate versus 66 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 25% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 39%. The total number of active inventory this September was 71 compared to 116 in September 2020. This month's total of 71 is lower than the previous month's total supply of available inventory of 82, a decrease of 13%.

Median Sale Price
Last September, the median sale price for East End Homes was $225,000. This September, the median sale price was $277,000, an increase of 23% or $52,000 compared to last year. The current median sold price is 6% higher than in August.

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


New Listings
72
Current Contracts
70
Sold Vs. List Price
100.6%
Months of Supply
1.0
Up 7%
Vs. Year Ago
Up 43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In September, there was 1.0 months of supply available in East End, compared to 2.0 in September 2020. That is a decrease of 51% 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 72 homes newly listed for sale in East End compared to 67 in September 2020, an increase of 7%. There were 70 current contracts pending sale this September compared to 49 a year ago. The number of current contracts is 43% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in East End was 100.6% 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 14, lower than the average last year, which was 19, a decrease of 26%.

The Long & Foster Market Minute East End are defined as properties listed in zip code/s 23223.
*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.