The Long & Foster Market Minute

Focus On: Lakeside and Dumbarton Housing Market December 2019

Zip Code(s): 23294, 23228 and 23230
Units Sold
61
Active Inventory
73
Median Sale Price
$225,000
Days On Market
27
Up 3%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 61 sold this month in Lakeside and Dumbarton Real Estate versus 57 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 3% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 30%. The total number of active inventory this December was 73 compared to 105 in December 2018. This month's total of 73 is lower than the previous month's total supply of available inventory of 96, a decrease of 24%.

Median Sale Price
Last December, the median sale price for Lakeside and Dumbarton Homes was $210,000. This December, the median sale price was $225,000, an increase of 7% or $15,000 compared to last year. The current median sold price is 6% lower than in November.

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


New Listings
34
Current Contracts
44
Sold Vs. List Price
98.5%
Months of Supply
1.2
Down -8%
Vs. Year Ago
Up 33%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In December, there was 1.2 months of supply available in Lakeside and Dumbarton, compared to 1.8 in December 2018. That is a decrease of 33% 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 34 homes newly listed for sale in Lakeside and Dumbarton compared to 37 in December 2018, a decrease of 8%. There were 44 current contracts pending sale this December compared to 33 a year ago. The number of current contracts is 33% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Lakeside and Dumbarton was 98.5% 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 27, lower than the average last year, which was 30, a decrease of 10%.

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.