The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market April 2019

Zip Code(s): 23112
Units Sold
105
Active Inventory
247
Median Sale Price
$279,900
Days On Market
30
Down -3%
Vs. Year Ago
Down -6%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 105 sold this month in Woodlake and Brandermill Real Estate versus 86 last month, an increase of 22%. This month's total units sold was lower than at this time last year, a decrease of 3% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 16 units or 6%. The total number of active inventory this April was 247 compared to 263 in April 2018. This month's supply remained stable as compared to last month.

Median Sale Price
Last April, the median sale price for Woodlake and Brandermill Homes was $282,500. This April, the median sale price was approximately the same at $279,900. The current median sold price is 1% lower than in April 2018.

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


New Listings
176
Current Contracts
123
Sold Vs. List Price
100.0%
Months of Supply
2.4
Up 31%
Vs. Year Ago
Up 16%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In April, there was 2.4 months of supply available in Woodlake and Brandermill. 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 176 homes newly listed for sale in Woodlake and Brandermill compared to 134 in April 2018, an increase of 31%. There were 123 current contracts pending sale this April compared to 106 a year ago. The number of current contracts is 16% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Woodlake and Brandermill was 100.0% 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 30, lower than the average last year, which was 33, a decrease of 9%.

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.