The Long & Foster Market Minute

Focus On: Windsor Farms, The Fan, and Museum District Housing Market April 2019

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
54
Active Inventory
115
Median Sale Price
$409,750
Days On Market
17
Down -2%
Vs. Year Ago
Up 47%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 54 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 72 last month, a decrease of 25%. This month's total units sold was lower than at this time last year, a decrease of 2% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 37 units or 47%. The total number of active inventory this April was 115 compared to 78 in April 2018. This month's total of 115 is higher than the previous month's total supply of available inventory of 104, an increase of 11%.

Median Sale Price
Last April, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $382,000. This April, the median sale price was $409,750, an increase of 7% or $27,750 compared to last year. The current median sold price is 10% higher than in March.

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


New Listings
91
Current Contracts
67
Sold Vs. List Price
100.0%
Months of Supply
2.1
Down -3%
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -1.9%
Vs. Year Ago
Up 50%
Vs. Year Ago

Months of Supply
In April, there was 2.1 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 1.4 in April 2018. That is an increase of 50% 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 91 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 94 in April 2018, a decrease of 3%. There were 67 current contracts pending sale this April compared to 93 a year ago. The number of current contracts remained stable as compared to last April.

Sale Price to List Price Ratio
In April, the average sale price in Windsor Farms, The Fan, and Museum District was 100.0% of the average list price, which is 1.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 20, a decrease of 15%.

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.