The Long & Foster Market Minute

Focus On: Cumberland County Housing Market August 2017

Units Sold
92
Active Inventory
819
Median Sale Price
$134,000
Days On Market
99
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 16%
Vs. Year Ago

Units Sold
The number of units sold remained stable in August, with 92 sold this month in Cumberland County Real Estate. This month's total units sold was higher than at this time last year, an increase of 8% versus August 2016.

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Active Inventory
The total number of homes available this month is 819 units, which is similar compared to a year ago. This month's total of 819 is higher than the previous month's total supply of available inventory of 805, an increase of 2%.

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Median Sale Price
Last August, the median sale price for Cumberland County Homes was $137,000. This August, the median sale price was $134,000, a decrease of 2% or $3,000 compared to last year. The current median sold price is 1% lower than in July.

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

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New Listings
177
Current Contracts
100
Sold Vs. List Price
96.8%
Months of Supply
8.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 8%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -6%
Vs. Year Ago

Months of Supply
In August, there was 8.9 months of supply available in Cumberland County, compared to 9.5 in August 2016. That is a decrease of 6% 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.

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New Listings & Current Contracts
This month there were 177 homes newly listed for sale in Cumberland County compared to 164 in August 2016, an increase of 8%. There were 100 current contracts pending sale this August compared to 87 a year ago. The number of current contracts is 15% higher than last August.

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Sale Price to List Price Ratio
In August, the average sale price in Cumberland County was 96.8% of the average list price, which is 1.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 99, higher than the average last year, which was 85, an increase of 16%.

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The Long & Foster Market Minute *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 SJSMLS 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 SJSMLS or Long & Foster Real Estate, Inc.