The Long & Foster Market Minute

Focus On: Lakeside and Dumbarton Housing Market June 2019

Zip Code(s): 23294, 23228 and 23230
Units Sold
110
Active Inventory
92
Median Sale Price
$225,000
Days On Market
15
Up
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 110 sold this month in Lakeside and Dumbarton 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 11 units or 11%. The total number of active inventory this June was 92 compared to 103 in June 2018. This month's total of 92 is lower than the previous month's total supply of available inventory of 94, a decrease of 2%.

Median Sale Price
Last June, the median sale price for Lakeside and Dumbarton Homes was $193,000. This June, the median sale price was $225,000, an increase of 17% or $32,000 compared to last year. The current median sold price is 1% lower 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
87
Current Contracts
75
Sold Vs. List Price
100.1%
Months of Supply
0.8
Up 10%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In June, there was 0.8 months of supply available in Lakeside and Dumbarton, compared to 1.3 in June 2018. That is a decrease of 37% 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 87 homes newly listed for sale in Lakeside and Dumbarton compared to 79 in June 2018, an increase of 10%. There were 75 current contracts pending sale this June compared to 76 a year ago. The number of current contracts is 1% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Lakeside and Dumbarton was 100.1% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 15, higher than the average last year, which was 13, an increase of 15%.

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.