The Long & Foster Market Minute

Focus On: Remington, Midland, and Southern Fauquier County Housing Market September 2021

Zip Code(s): 20119, 20138, 20139, 22712, 22720, 22728, 22734 and 22742
Units Sold
30
Active Inventory
41
Median Sale Price
$344,100
Days On Market
14
Down
Vs. Year Ago
Down -37%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in September, with 30 sold this month in Remington, Midland, and Southern Fauquier County Real Estate. This month's total units sold was lower than at this time last year, a decrease from September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 24 units or 37%. The total number of active inventory this September was 41 compared to 65 in September 2020. This month's total of 41 is higher than the previous month's total supply of available inventory of 33, an increase of 24%.

Median Sale Price
Last September, the median sale price for Remington, Midland, and Southern Fauquier County Homes was $362,500. This September, the median sale price was $344,100, a decrease of 5% or $18,400 compared to last year. The current median sold price is 18% lower 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
42
Current Contracts
24
Sold Vs. List Price
100.0%
Months of Supply
1.4
Down -5%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 1%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In September, there was 1.4 months of supply available in Remington, Midland, and Southern Fauquier County. The amount of supply is similar compared to 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 42 homes newly listed for sale in Remington, Midland, and Southern Fauquier County compared to 44 in September 2020, a decrease of 5%. There were 24 current contracts pending sale this September compared to 27 a year ago. The number of current contracts is 11% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Remington, Midland, and Southern Fauquier County was 100.0% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 45. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Remington, Midland, and Southern Fauquier County are defined as properties listed in zip code/s 20119, 20138, 20139, 22712, 22720, 22728, 22734 and 22742.
*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.