The Long & Foster Market Minute

Focus On: Westover Hills Housing Market December 2021

Zip Code(s): 23225
Units Sold
53
Active Inventory
29
Median Sale Price
$350,000
Days On Market
17
Down -4%
Vs. Year Ago
No Change
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 53 sold this month in Westover Hills Real Estate versus 54 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 4% versus December 2020.

Active Inventory
The total number of homes available this month is 29 units, which is similar compared to a year ago. This month's total of 29 is lower than the previous month's total supply of available inventory of 39, a decrease of 26%.

Median Sale Price
Last December, the median sale price for Westover Hills Homes was $307,000. This December, the median sale price was $350,000, an increase of 14% or $43,000 compared to last year. The current median sold price is 8% higher than in November.

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


New Listings
30
Current Contracts
30
Sold Vs. List Price
103.6%
Months of Supply
0.5
Down -3%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In December, there was 0.5 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 30 homes newly listed for sale in Westover Hills compared to 31 in December 2020, a decrease of 3%. There were 30 current contracts pending sale this December compared to 35 a year ago. The number of current contracts is 14% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Westover Hills was 103.6% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 18, a decrease of 6%.

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.