The Long & Foster Market Minute

Focus On: Westover Hills Housing Market June 2020

Zip Code(s): 23225
Units Sold
35
Active Inventory
35
Median Sale Price
$261,750
Days On Market
12
Down
Vs. Year Ago
Down -35%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 9%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 35 sold this month in Westover Hills Real Estate. This month's total units sold was lower than at this time last year, a decrease from June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 35%. The total number of active inventory this June was 35 compared to 54 in June 2019. This month's total of 35 is lower than the previous month's total supply of available inventory of 42, a decrease of 17%.

Median Sale Price
Last June, the median sale price for Westover Hills Homes was $248,250. This June, the median sale price was $261,750, an increase of 5% or $13,500 compared to last year. The current median sold price is 4% higher than in May.

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


New Listings
33
Current Contracts
37
Sold Vs. List Price
102.1%
Months of Supply
1.0
Down -28%
Vs. Year Ago
Down -21%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.0 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.

New Listings & Current Contracts
This month there were 33 homes newly listed for sale in Westover Hills compared to 46 in June 2019, a decrease of 28%. There were 37 current contracts pending sale this June compared to 47 a year ago. The number of current contracts is 21% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Westover Hills was 102.1% 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 12, higher than the average last year, which was 11, an increase of 9%.

The Long & Foster Market Minute 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.
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.