The Long & Foster Market Minute

Focus On: Chesterfield County Housing Market February 2020

Units Sold
390
Active Inventory
988
Median Sale Price
$256,000
Days On Market
42
Up 13%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 390 sold this month in Chesterfield County Real Estate versus 361 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 13% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 357 units or 27%. The total number of active inventory this February was 988 compared to 1,345 in February 2019. This month's total of 988 is lower than the previous month's total supply of available inventory of 1,108, a decrease of 11%.

Median Sale Price
Last February, the median sale price for Chesterfield County Homes was $249,450. This February, the median sale price was $256,000, an increase of 3% or $6,550 compared to last year. The current median sold price is 4% lower than in January.

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


New Listings
652
Current Contracts
630
Sold Vs. List Price
100.0%
Months of Supply
2.5
No Change
Vs. Year Ago
Up 26%
Vs. Year Ago
No Change
Vs. Year Ago
Down -35%
Vs. Year Ago

Months of Supply
In February, there was 2.5 months of supply available in Chesterfield County, compared to 3.9 in February 2019. That is a decrease of 35% 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 652 homes newly listed for sale in Chesterfield County, which is similar to the amount in February 2019. There were 630 current contracts pending sale this February compared to 499 a year ago. The number of current contracts is 26% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Chesterfield County was 100.0% 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 42, lower than the average last year, which was 52, a decrease of 19%.

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 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.