The Long & Foster Market Minute

Focus On: Oak Hill Housing Market September 2019

Zip Code(s): 20171
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -6%
Vs. Year Ago
Down -29%
Vs. Year Ago
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 17 sold this month in Oak Hill Real Estate versus 23 last month, a decrease of 26%. This month's total units sold was lower than at this time last year, a decrease of 6% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 10 units or 29%. The total number of active inventory this September was 25 compared to 35 in September 2018. This month's total of 25 is lower than the previous month's total supply of available inventory of 29, a decrease of 14%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Oak Hill Homes was $454,950. This September, the median sale price was $660,000, an increase of $205,050 compared to last year. The current median sold price is higher 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
No Change
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In September, there was 1.5 months of supply available in Oak Hill, compared to 1.9 in September 2018. That is a decrease of 24% 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 19 homes newly listed for sale in Oak Hill, which is similar to the amount in September 2018. There were 18 current contracts pending sale this September compared to 17 a year ago. The number of current contracts is 6% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Oak Hill was 99.7% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 27, a decrease of 19%.

The Long & Foster Market Minute Oak Hill are defined as properties listed in zip code/s 20171.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.