The Long & Foster Market Minute

Focus On: Oak Hill Housing Market May 2020

Zip Code(s): 20171
Units Sold
24
Active Inventory
29
Median Sale Price
$545,000
Days On Market
11
Down
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in May, with 24 sold this month in Oak Hill Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is higher by 2 units or 7%. The total number of active inventory this May was 29 compared to 27 in May 2019. This month's total of 29 is lower than the previous month's total supply of available inventory of 36, a decrease of 19%.

Median Sale Price
Last May, the median sale price for Oak Hill Homes was $572,835. This May, the median sale price was $545,000, a decrease of 5% or $27,835 compared to last year. The current median sold price is 12% higher than in April.

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


New Listings
29
Current Contracts
29
Sold Vs. List Price
100.1%
Months of Supply
1.2
Down -24%
Vs. Year Ago
Down -9%
Vs. Year Ago
No Change
Vs. Year Ago
Up 30%
Vs. Year Ago

Months of Supply
In May, there was 1.2 months of supply available in Oak Hill, compared to 0.9 in May 2019. That is an increase of 30% 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 29 homes newly listed for sale in Oak Hill compared to 38 in May 2019, a decrease of 24%. There were 29 current contracts pending sale this May compared to 32 a year ago. The number of current contracts is 9% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Oak Hill was 100.1% 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 11, lower than the average last year, which was 16, a decrease of 31%.

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.