The Long & Foster Market Minute

Focus On: Westover Hills Housing Market June 2019

Zip Code(s): 23225
Units Sold
56
Active Inventory
39
Median Sale Price
$248,250
Days On Market
11
Down -5%
Vs. Year Ago
Down -46%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -39%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 56 sold this month in Westover Hills Real Estate versus 65 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 5% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 33 units or 46%. The total number of active inventory this June was 39 compared to 72 in June 2018. This month's total of 39 is lower than the previous month's total supply of available inventory of 49, a decrease of 20%.

Median Sale Price
Last June, the median sale price for Westover Hills Homes was $255,000. This June, the median sale price was $248,250, a decrease of 3% or $6,750 compared to last year. The current median sold price is 1% lower 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
46
Current Contracts
50
Sold Vs. List Price
102.3%
Months of Supply
0.7
Down -33%
Vs. Year Ago
Down -9%
Vs. Year Ago
No Change
Vs. Year Ago
Down -43%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Westover Hills, compared to 1.2 in June 2018. That is a decrease of 43% 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 46 homes newly listed for sale in Westover Hills compared to 69 in June 2018, a decrease of 33%. There were 50 current contracts pending sale this June compared to 55 a year ago. The number of current contracts is 9% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Westover Hills was 102.3% 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 11, lower than the average last year, which was 18, a decrease of 39%.

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.