The Long & Foster Market Minute

Focus On: Robious Corridor Housing Market October 2019

Zip Code(s): 23113
Units Sold
41
Active Inventory
128
Median Sale Price
$439,755
Days On Market
61
Down -24%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 49%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 41 sold this month in Robious Corridor Real Estate versus 39 last month, an increase of 5%. This month's total units sold was lower than at this time last year, a decrease of 24% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 15%. The total number of active inventory this October was 128 compared to 151 in October 2018. This month's total of 128 is lower than the previous month's total supply of available inventory of 137, a decrease of 7%.

Median Sale Price
Last October, the median sale price for Robious Corridor Homes was $432,500. This October, the median sale price was $439,755, an increase of 2% or $7,255 compared to last year. The current median sold price is 10% lower than in September.

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


New Listings
63
Current Contracts
46
Sold Vs. List Price
98.6%
Months of Supply
3.1
Up 21%
Vs. Year Ago
No Change
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In October, there was 3.1 months of supply available in Robious Corridor, compared to 2.8 in October 2018. That is an increase of 12% 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 63 homes newly listed for sale in Robious Corridor compared to 52 in October 2018, an increase of 21%. There were 46 current contracts pending sale this October, consistent with the volume a year ago. The number of current contracts is 2% higher than last month.

Sale Price to List Price Ratio
In October, the average sale price in Robious Corridor was 98.6% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 61, higher than the average last year, which was 41, an increase of 49%.

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.