The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market July 2018

Zip Code(s): 23112
Units Sold
123
Active Inventory
250
Median Sale Price
$285,000
Days On Market
31
Down -1%
Vs. Year Ago
Down -18%
Vs. Year Ago
No Change
Vs. Year Ago
Up 15%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 123 sold this month in Woodlake and Brandermill Real Estate versus 125 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 1% versus July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 54 units or 18%. The total number of active inventory this July was 250 compared to 304 in July 2017. This month's total of 250 is lower than the previous month's total supply of available inventory of 271, a decrease of 8%.

Median Sale Price
Last July, the median sale price for Woodlake and Brandermill Homes was $284,725. This July, the median sale price was $285,000, which is similar compared to a year ago. The current median sold price is 2% higher than in June.

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


New Listings
136
Current Contracts
104
Sold Vs. List Price
99.7%
Months of Supply
2.0
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago
Down -1.8%
Vs. Year Ago
Down -17%
Vs. Year Ago

Months of Supply
In July, there was 2.0 months of supply available in Woodlake and Brandermill, compared to 2.5 in July 2017. That is a decrease of 17% 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 136 homes newly listed for sale in Woodlake and Brandermill, which is similar to the amount in July 2017. There were 104 current contracts pending sale this July compared to 124 a year ago. The number of current contracts is 16% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Woodlake and Brandermill was 99.7% of the average list price, which is 1.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 31, higher than the average last year, which was 27, an increase of 15%.

The Long & Foster Market Minute Woodlake and Brandermill are defined as properties listed in zip code/s 23112.
*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.