The Long & Foster Market Minute
Focus On: Cumberland County Housing Market April 2017
Units Sold
83
Active Inventory
759
Median Sale Price
$95,000
Days On Market
77
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -1%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -25%
Vs. Year Ago
Down -21%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in April, with 83 sold this month in Cumberland County Real Estate versus 93 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 1% versus April 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 24 units or 3%. The total number of active inventory this April was 759 compared to 783 in April 2016. This month's total of 759 is higher than the previous month's total supply of available inventory of 735, an increase of 3%.

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Median Sale Price
Last April, the median sale price for Cumberland County Homes was $127,000. This April, the median sale price was $95,000, a decrease of $32,000 compared to last year. The current median sold price is lower than in March.

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
162
Current Contracts
83
Sold Vs. List Price
95.3%
Months of Supply
9.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 18%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -2%
Vs. Year Ago
Months of Supply
In April, there was 9.1 months of supply available in Cumberland County, compared to 9.3 in April 2016. That is a decrease of 2% 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 162 homes newly listed for sale in Cumberland County compared to 137 in April 2016, an increase of 18%. There were 83 current contracts pending sale this April compared to 89 a year ago. The number of current contracts is 7% lower than last April.

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Sale Price to List Price Ratio
In April, the average sale price in Cumberland County was 95.3% of the average list price, which is 0.9% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 77, lower than the average last year, which was 98, a decrease of 21%.

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*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.