The Long & Foster Market Minute

Focus On: Buckingham County Housing Market October 2019

Units Sold
3
Active Inventory
27
Median Sale Price
$116,500
Days On Market
186
Down
Vs. Year Ago
Down -21%
Vs. Year Ago
Down
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in October, with 3 sold this month in Buckingham County Real Estate. This month's total units sold was lower than at this time last year, a decrease from October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 21%. The total number of active inventory this October was 27 compared to 34 in October 2018. This month's total of 27 is lower than the previous month's total supply of available inventory of 31, a decrease of 13%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Buckingham County Homes was $157,000. This October, the median sale price was $116,500, a decrease of $40,500 compared to last year. The current median sold price is 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
3
Current Contracts
3
Sold Vs. List Price
99.5%
Months of Supply
9.0
Down -57%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Up 32%
Vs. Year Ago

Months of Supply
In October, there was 9.0 months of supply available in Buckingham County, compared to 6.8 in October 2018. That is an increase of 32% 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 3 homes newly listed for sale in Buckingham County compared to 7 in October 2018, a decrease of 57%. There were 3 current contracts pending sale this October compared to 4 a year ago. The number of current contracts is 25% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Buckingham County was 99.5% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 186, higher than the average last year, which was 69. This increase was impacted by the limited number of sales.

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 SCAR 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 SCAR or Long & Foster Real Estate, Inc.