The Long & Foster Market Minute

Focus On: Robious Corridor Housing Market April 2020

Zip Code(s): 23113
Units Sold
39
Active Inventory
112
Median Sale Price
$476,000
Days On Market
24
Up 26%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 39 sold this month in Robious Corridor Real Estate versus 47 last month, a decrease of 17%. This month's total units sold was higher than at this time last year, an increase of 26% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 37%. The total number of active inventory this April was 112 compared to 178 in April 2019. This month's total of 112 is higher than the previous month's total supply of available inventory of 105, an increase of 7%.

Median Sale Price
Last April, the median sale price for Robious Corridor Homes was $469,000. This April, the median sale price was $476,000, an increase of 1% or $7,000 compared to last year. The current median sold price is 3% higher than in March.

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


New Listings
56
Current Contracts
35
Sold Vs. List Price
99.2%
Months of Supply
2.9
Down -27%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -1.2%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In April, there was 2.9 months of supply available in Robious Corridor, compared to 5.7 in April 2019. That is a decrease of 50% 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 56 homes newly listed for sale in Robious Corridor compared to 77 in April 2019, a decrease of 27%. There were 35 current contracts pending sale this April compared to 52 a year ago. The number of current contracts is 33% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Robious Corridor was 99.2% of the average list price, which is 1.2% lower than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 30, a decrease of 20%.

The Long & Foster Market Minute Robious Corridor are defined as properties listed in zip code/s 23113.
*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.