The Long & Foster Market Minute

Focus On: Lakeside and Dumbarton Housing Market August 2019

Zip Code(s): 23294, 23228 and 23230
Units Sold
76
Active Inventory
103
Median Sale Price
$224,050
Days On Market
17
Up 17%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 76 sold this month in Lakeside and Dumbarton Real Estate versus 72 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 17% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 10%. The total number of active inventory this August was 103 compared to 114 in August 2018. This month's total of 103 is lower than the previous month's total supply of available inventory of 117, a decrease of 12%.

Median Sale Price
Last August, the median sale price for Lakeside and Dumbarton Homes was $212,595. This August, the median sale price was $224,050, an increase of 5% or $11,455 compared to last year. The current median sold price is 1% lower than in July.

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


New Listings
77
Current Contracts
77
Sold Vs. List Price
99.3%
Months of Supply
1.4
Down -13%
Vs. Year Ago
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In August, there was 1.4 months of supply available in Lakeside and Dumbarton, compared to 1.8 in August 2018. That is a decrease of 23% 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 77 homes newly listed for sale in Lakeside and Dumbarton compared to 89 in August 2018, a decrease of 13%. There were 77 current contracts pending sale this August compared to 80 a year ago. The number of current contracts is 4% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Lakeside and Dumbarton was 99.3% 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 17, lower than the average last year, which was 18, a decrease of 6%.

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.