The Long & Foster Market Minute

Focus On: Westover Hills Housing Market September 2021

Zip Code(s): 23225
Units Sold
60
Active Inventory
42
Median Sale Price
$356,725
Days On Market
16
Up 28%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 60%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 60 sold this month in Westover Hills Real Estate versus 56 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 28% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2 units or 5%. The total number of active inventory this September was 42 compared to 44 in September 2020. This month's total of 42 is lower than the previous month's total supply of available inventory of 55, a decrease of 24%.

Median Sale Price
Last September, the median sale price for Westover Hills Homes was $305,000. This September, the median sale price was $356,725, an increase of 17% or $51,725 compared to last year. The current median sold price is 3% higher than in August.

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


New Listings
49
Current Contracts
48
Sold Vs. List Price
103.7%
Months of Supply
0.7
Down -14%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In September, there was 0.7 months of supply available in Westover Hills, compared to 0.9 in September 2020. That is a decrease of 25% 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 49 homes newly listed for sale in Westover Hills compared to 57 in September 2020, a decrease of 14%. There were 48 current contracts pending sale this September compared to 51 a year ago. The number of current contracts is 6% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Westover Hills was 103.7% 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 16, higher than the average last year, which was 10, an increase of 60%.

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.