The Long & Foster Market Minute

Focus On: Goochland County Housing Market August 2018

Units Sold
51
Active Inventory
145
Median Sale Price
$439,950
Days On Market
54
Up
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -5%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 51 sold this month in Goochland County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this August was 145 compared to 144 in August 2017. This month's total of 145 is lower than the previous month's total supply of available inventory of 150, a decrease of 3%.

Median Sale Price
Last August, the median sale price for Goochland County Homes was $408,487. This August, the median sale price was $439,950, an increase of 8% or $31,463 compared to last year. The current median sold price is 3% higher 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.


New Listings
42
Current Contracts
34
Sold Vs. List Price
99.6%
Months of Supply
2.8
Down -24%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In August, there was 2.8 months of supply available in Goochland County, compared to 5.1 in August 2017. That is a decrease of 45% 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 42 homes newly listed for sale in Goochland County compared to 55 in August 2017, a decrease of 24%. There were 34 current contracts pending sale this August compared to 32 a year ago. The number of current contracts is 6% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Goochland County was 99.6% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 57, a decrease of 5%.

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.