The Long & Foster Market Minute

Focus On: Westover Hills Housing Market December 2019

Zip Code(s): 23225
Units Sold
46
Active Inventory
36
Median Sale Price
$253,250
Days On Market
29
Up 2%
Vs. Year Ago
Down -32%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -3%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 46 sold this month in Westover Hills Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 32%. The total number of active inventory this December was 36 compared to 53 in December 2018. This month's total of 36 is lower than the previous month's total supply of available inventory of 62, a decrease of 42%.

Median Sale Price
Last December, the median sale price for Westover Hills Homes was $198,000. This December, the median sale price was $253,250, an increase of $55,250 compared to last year. The current median sold price is 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
14
Current Contracts
30
Sold Vs. List Price
99.4%
Months of Supply
0.8
Down -33%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In December, there was 0.8 months of supply available in Westover Hills, compared to 1.2 in December 2018. That is a decrease of 34% 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 14 homes newly listed for sale in Westover Hills compared to 21 in December 2018, a decrease of 33%. There were 30 current contracts pending sale this December compared to 32 a year ago. The number of current contracts is 6% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Westover Hills was 99.4% 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 29, lower than the average last year, which was 30, a decrease of 3%.

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.