The Long & Foster Market Minute

Focus On: Lakeside and Dumbarton Housing Market June 2020

Zip Code(s): 23294, 23228 and 23230
Units Sold
63
Active Inventory
53
Median Sale Price
$250,000
Days On Market
23
Down
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 53%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 63 sold this month in Lakeside and Dumbarton 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 67 units or 56%. The total number of active inventory this June was 53 compared to 120 in June 2019. This month's total of 53 is lower than the previous month's total supply of available inventory of 93, a decrease of 43%.

Median Sale Price
Last June, the median sale price for Lakeside and Dumbarton Homes was $225,000. This June, the median sale price was $250,000, an increase of 11% or $25,000 compared to last year. The current median sold price is 4% higher than in May.

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


New Listings
65
Current Contracts
98
Sold Vs. List Price
102.0%
Months of Supply
0.8
Down -26%
Vs. Year Ago
Up 38%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Lakeside and Dumbarton, compared to 1.1 in June 2019. That is a decrease of 22% 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 65 homes newly listed for sale in Lakeside and Dumbarton compared to 88 in June 2019, a decrease of 26%. There were 98 current contracts pending sale this June compared to 71 a year ago. The number of current contracts is 38% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Lakeside and Dumbarton was 102.0% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, higher than the average last year, which was 15, an increase of 53%.

The Long & Foster Market Minute Lakeside and Dumbarton are defined as properties listed in zip code/s 23294, 23228 and 23230.
*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.