The Long & Foster Market Minute

Focus On: Windsor Farms, The Fan, and Museum District Housing Market June 2021

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
59
Active Inventory
65
Median Sale Price
$365,000
Days On Market
39
Up 11%
Vs. Year Ago
Down -39%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 86%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 59 sold this month in Windsor Farms, The Fan, and Museum District 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 41 units or 39%. The total number of active inventory this June was 65 compared to 106 in June 2020. This month's total of 65 is lower than the previous month's total supply of available inventory of 68, a decrease of 4%.

Median Sale Price
Last June, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $415,000. This June, the median sale price was $365,000, a decrease of 12% or $50,000 compared to last year. The current median sold price is 9% higher 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
77
Current Contracts
71
Sold Vs. List Price
105.3%
Months of Supply
1.1
Up 22%
Vs. Year Ago
Up 29%
Vs. Year Ago
Up 4.7%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 2.0 in June 2020. That is a decrease of 45% 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 77 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 63 in June 2020, an increase of 22%. There were 71 current contracts pending sale this June compared to 55 a year ago. The number of current contracts is 29% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Windsor Farms, The Fan, and Museum District was 105.3% of the average list price, which is 4.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 39, higher than the average last year, which was 21, an increase of 86%.

The Long & Foster Market Minute Windsor Farms, The Fan, and Museum District are defined as properties listed in zip code/s 23221, 23220, 23241 and 23219.
*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.