The Long & Foster Market Minute

Focus On: Woodlake and Brandermill Housing Market September 2018

Zip Code(s): 23112
Units Sold
79
Active Inventory
263
Median Sale Price
$260,000
Days On Market
24
Down
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 79 sold this month in Woodlake and Brandermill Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 96 units or 27%. The total number of active inventory this September was 263 compared to 359 in September 2017. This month's total of 263 is lower than the previous month's total supply of available inventory of 297, a decrease of 11%.

Median Sale Price
Last September, the median sale price for Woodlake and Brandermill Homes was $255,900. This September, the median sale price was $260,000, an increase of 2% or $4,100 compared to last year. The current median sold price is 10% lower than in August.

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


New Listings
98
Current Contracts
90
Sold Vs. List Price
100.5%
Months of Supply
3.3
Down -23%
Vs. Year Ago
Up 20%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Up 16%
Vs. Year Ago

Months of Supply
In September, there was 3.3 months of supply available in Woodlake and Brandermill, compared to 2.9 in September 2017. That is an increase of 16% 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 98 homes newly listed for sale in Woodlake and Brandermill compared to 128 in September 2017, a decrease of 23%. There were 90 current contracts pending sale this September compared to 75 a year ago. The number of current contracts is 20% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Woodlake and Brandermill was 100.5% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 33, a decrease of 27%.

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.