The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market March 2019

Zip Code(s): 23112
Units Sold
86
Active Inventory
215
Median Sale Price
$279,900
Days On Market
44
Down -5%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 5%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 86 sold this month in Woodlake and Brandermill Real Estate versus 68 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 5% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 46 units or 18%. The total number of active inventory this March was 215 compared to 261 in March 2018. This month's total of 215 is higher than the previous month's total supply of available inventory of 210, an increase of 2%.

Median Sale Price
Last March, the median sale price for Woodlake and Brandermill Homes was $275,000. This March, the median sale price was $279,900, an increase of 2% or $4,900 compared to last year. The current median sold price is 10% higher than in February.

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


New Listings
165
Current Contracts
125
Sold Vs. List Price
99.5%
Months of Supply
2.5
Down -5%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Down -13%
Vs. Year Ago

Months of Supply
In March, there was 2.5 months of supply available in Woodlake and Brandermill, compared to 2.9 in March 2018. That is a decrease of 13% 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 165 homes newly listed for sale in Woodlake and Brandermill compared to 173 in March 2018, a decrease of 5%. There were 125 current contracts pending sale this March compared to 146 a year ago. The number of current contracts is 14% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Woodlake and Brandermill was 99.5% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 44, higher than the average last year, which was 42, an increase of 5%.

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.