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| AUGUST 2024 | |||
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| Zip Code(s): 23225 | |||
| Units Sold 37 |
Active Inventory 49 |
Median Sale Price $399,950 |
Days On Market 18 |
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| Up 16% Vs. Year Ago |
Up 20% Vs. Year Ago |
Up Vs. Year Ago |
No Change Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in August, with 37 sold this month in Westover Hills Real Estate versus 47 last month, a decrease of 21%. This month's total units sold was higher than at this time last year, an increase of 16% versus August 2023. |
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Active Inventory
Versus last year, the total number of homes available this month is higher by 8 units or 20%. The total number of active inventory this August was 49 compared to 41 in August 2023. This month's total of 49 is lower than the previous month's total supply of available inventory of 53, a decrease of 8%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last August, the median sale price for Westover Hills Homes was $307,500. This August, the median sale price was $399,950, an increase of $92,450 compared to last year. The current median sold price is higher than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 39 |
Current Contracts 38 |
Sold Vs. List Price 103.0% |
Months of Supply 1.3 |
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| Down -7% Vs. Year Ago |
Up 31% Vs. Year Ago |
Down -3.3% Vs. Year Ago |
No Change Vs. Year Ago |
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Months of Supply
In August, there was 1.3 months of supply available in Westover Hills. 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. |
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New Listings & Current Contracts
This month there were 39 homes newly listed for sale in Westover Hills compared to 42 in August 2023, a decrease of 7%. There were 38 current contracts pending sale this August compared to 29 a year ago. The number of current contracts is 31% higher than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Westover Hills was 103.0% of the average list price, which is 3.5% lower than at this time last year. Days on Market
This month, the average number of days on market was 18, which is similar compared to a year ago. | |||
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Westover Hills are defined as properties listed in zip code/s 23225. | ||
| *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. | |||
 Information 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. |
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