The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market October 2019

Zip Code(s): 23112
Units Sold
107
Active Inventory
228
Median Sale Price
$269,900
Days On Market
37
Up 32%
Vs. Year Ago
Down -37%
Vs. Year Ago
Down -10%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 107 sold this month in Woodlake and Brandermill Real Estate versus 99 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 32% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 134 units or 37%. The total number of active inventory this October was 228 compared to 362 in October 2018. This month's total of 228 is higher than the previous month's total supply of available inventory of 222, an increase of 3%.

Median Sale Price
Last October, the median sale price for Woodlake and Brandermill Homes was $299,900. This October, the median sale price was $269,900, a decrease of 10% or $30,000 compared to last year. The current median sold price is 4% 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
129
Current Contracts
98
Sold Vs. List Price
99.2%
Months of Supply
2.1
Down -12%
Vs. Year Ago
Up 26%
Vs. Year Ago
No Change
Vs. Year Ago
Down -52%
Vs. Year Ago

Months of Supply
In October, there was 2.1 months of supply available in Woodlake and Brandermill, compared to 4.5 in October 2018. That is a decrease of 52% 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 129 homes newly listed for sale in Woodlake and Brandermill compared to 147 in October 2018, a decrease of 12%. There were 98 current contracts pending sale this October compared to 78 a year ago. The number of current contracts is 26% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Woodlake and Brandermill was 99.2% 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 37, lower than the average last year, which was 44, a decrease of 16%.

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.