The Long & Foster Market Minute

Focus On: Glen Allen Housing Market September 2021

Zip Code(s): 23059 and 23060
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 14%
Vs. Year Ago
Down -51%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 138 sold this month in Glen Allen Real Estate versus 167 last month, a decrease of 17%. This month's total units sold was higher than at this time last year, an increase of 14% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 110 units or 51%. The total number of active inventory this September was 104 compared to 214 in September 2020. This month's total of 104 is lower than the previous month's total supply of available inventory of 123, a decrease of 15%.

Median Sale Price
Last September, the median sale price for Glen Allen Homes was $395,000. This September, the median sale price was $375,000, a decrease of 5% or $20,000 compared to last year. The current median sold price is 7% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -20%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -58%
Vs. Year Ago

Months of Supply
In September, there was 0.8 months of supply available in Glen Allen, compared to 1.8 in September 2020. That is a decrease of 57% 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 121 homes newly listed for sale in Glen Allen compared to 152 in September 2020, a decrease of 20%. There were 123 current contracts pending sale this September compared to 118 a year ago. The number of current contracts is 4% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Glen Allen was 103.2% of the average list price, which is 3.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 13, lower than the average last year, which was 15, a decrease of 13%.

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.