The Long & Foster Market Minute

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

Zip Code(s): 23221, 23220, 23241 and 23219
Units Sold
54
Active Inventory
122
Median Sale Price
$310,000
Days On Market
24
Up 6%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 14%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 54 sold this month in Windsor Farms, The Fan, and Museum District Real Estate versus 50 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 6% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 6%. The total number of active inventory this October was 122 compared to 130 in October 2018. This month's total of 122 is higher than the previous month's total supply of available inventory of 115, an increase of 6%.

Median Sale Price
Last October, the median sale price for Windsor Farms, The Fan, and Museum District Homes was $294,950. This October, the median sale price was $310,000, an increase of 5% or $15,050 compared to last year. The current median sold price is 21% lower than in September.

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


New Listings
90
Current Contracts
64
Sold Vs. List Price
99.1%
Months of Supply
2.3
Up 53%
Vs. Year Ago
Up 36%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In October, there was 2.3 months of supply available in Windsor Farms, The Fan, and Museum District, compared to 2.5 in October 2018. That is a decrease of 11% 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 90 homes newly listed for sale in Windsor Farms, The Fan, and Museum District compared to 59 in October 2018, an increase of 53%. There were 64 current contracts pending sale this October compared to 47 a year ago. The number of current contracts is 36% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Windsor Farms, The Fan, and Museum District was 99.1% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 24, higher than the average last year, which was 21, an increase of 14%.

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.