The Long & Foster Market Minute

Focus On: Goochland County Housing Market October 2018

Units Sold
38
Active Inventory
144
Median Sale Price
$453,750
Days On Market
41
Up
Vs. Year Ago
Down -14%
Vs. Year Ago
Up
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in October, with 38 sold this month in Goochland County Real Estate. This month's total units sold was higher than at this time last year, an increase from October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 14%. The total number of active inventory this October was 144 compared to 167 in October 2017. This month's total of 144 is lower than the previous month's total supply of available inventory of 151, a decrease of 5%.

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 Goochland County Homes was $392,456. This October, the median sale price was $453,750, an increase of $61,294 compared to last year. The current median sold price is higher 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
42
Current Contracts
23
Sold Vs. List Price
99.4%
Months of Supply
3.8
Down -16%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In October, there was 3.8 months of supply available in Goochland County, compared to 5.1 in October 2017. That is a decrease of 25% 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 50 in October 2017, a decrease of 16%. There were 23 current contracts pending sale this October compared to 28 a year ago. The number of current contracts is 18% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Goochland County was 99.4% of the average list price, which is 1.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 41, lower than the average last year, which was 45, a decrease of 9%.

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.