Westover Hills Housing Market Data

There was a decrease in total units sold in August, with 32 sold this month in Westover Hills Real Estate versus 39 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 27% versus August 2022.

Versus last year, the total number of homes available this month is lower by 11 units or 26%. The total number of active inventory this August was 31 compared to 42 in August 2022. This month's total of 31 is higher than the previous month's total supply of available inventory of 29, an increase of 7%.

Last August, the median sale price for Westover Hills Homes was $342,250. This August, the median sale price was $307,500, a decrease of 10% or $34,750 compared to last year. The current median sold price is 10% lower than in July.

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

In August, 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.

This month there were 40 homes newly listed for sale in Westover Hills, which is similar to the amount in August 2022. There were 31 current contracts pending sale this August compared to 39 a year ago. The number of current contracts is 21% lower than last August.

In August, the average sale price in Westover Hills was 106.5% of the average list price, which is 2.0% higher than at this time last year.

This month, the average number of days on market was 18, higher than the average last year, which was 12. This increase was impacted by the limited number of sales.





Focus On: Westover Hills Housing Market			August 2023

Zip Code(s): 23225
Units Sold 32	Active Inventory 31	Median Sale Price $307,500	Days On Market 18

Down -27% Vs. Year Ago	Down -26% Vs. Year Ago	Down -10% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 32 sold this month in Westover Hills Real Estate versus 39 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 27% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is lower by 11 units or 26%. The total number of active inventory this August was 31 compared to 42 in August 2022. This month's total of 31 is higher than the previous month's total supply of available inventory of 29, an increase of 7%.
		Median Sale Price Last August, the median sale price for Westover Hills Homes was $342,250. This August, the median sale price was $307,500, a decrease of 10% or $34,750 compared to last year. The current median sold price is 10% lower than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 40	Current Contracts 31	Sold Vs. List Price 106.5%	Months of Supply 1.0

No Change Vs. Year Ago	Down -21% Vs. Year Ago	Up 1.9% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In August, 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 40 homes newly listed for sale in Westover Hills, which is similar to the amount in August 2022. There were 31 current contracts pending sale this August compared to 39 a year ago. The number of current contracts is 21% lower than last August.
		Sale Price to List Price Ratio In August, the average sale price in Westover Hills was 106.5% of the average list price, which is 2.0% higher than at this time last year. Days on Market This month, the average number of days on market was 18, higher than the average last year, which was 12. This increase was impacted by the limited number of sales.


	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.
	Information 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.