The Long & Foster Market Minute

Focus On: Glen Allen Housing Market September 2019

Zip Code(s): 23059 and 23060
Units Sold
140
Active Inventory
300
Median Sale Price
$349,975
Days On Market
31
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -28%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 140 sold this month in Glen Allen Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 53 units or 15%. The total number of active inventory this September was 300 compared to 353 in September 2018. This month's supply remained stable as compared to last month.

Median Sale Price
Last September, the median sale price for Glen Allen Homes was $369,500. This September, the median sale price was $349,975, a decrease of 5% or $19,525 compared to last year. The current median sold price is 6% lower 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
157
Current Contracts
112
Sold Vs. List Price
99.2%
Months of Supply
2.1
Up 20%
Vs. Year Ago
Up 23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -41%
Vs. Year Ago

Months of Supply
In September, there was 2.1 months of supply available in Glen Allen, compared to 3.6 in September 2018. That is a decrease of 41% 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 157 homes newly listed for sale in Glen Allen compared to 131 in September 2018, an increase of 20%. There were 112 current contracts pending sale this September compared to 91 a year ago. The number of current contracts is 23% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Glen Allen was 99.2% 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 31, lower than the average last year, which was 43, a decrease of 28%.

The Long & Foster Market Minute Glen Allen are defined as properties listed in zip code/s 23059 and 23060.
*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.