The Long & Foster Market Minute

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

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
34
Active Inventory
82
Median Sale Price
$343,500
Days On Market
38
Down -11%
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 34 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 45 last month, a decrease of 24%. This month's total units sold was lower than at this time last year, a decrease of 11% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 13%. The total number of active inventory this January was 82 compared to 94 in January 2018. This month's total of 82 is higher than the previous month's total supply of available inventory of 78, an increase of 5%.

Median Sale Price
Last January, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $350,000. This January, the median sale price was $343,500, a decrease of 2% or $6,500 compared to last year. The current median sold price is 21% higher than in December.

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


New Listings
63
Current Contracts
46
Sold Vs. List Price
97.4%
Months of Supply
2.4
Down -6%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In January, there was 2.4 months of supply available in Windsor Farms, The Fan, and Museum District. 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 63 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 67 in January 2018, a decrease of 6%. There were 46 current contracts pending sale this January compared to 43 a year ago. The number of current contracts is 7% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Windsor Farms, The Fan, and Museum District was 97.4% 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 38, lower than the average last year, which was 48, a decrease of 21%.

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.