The Long & Foster Market Minute

Focus On: Goochland County Housing Market February 2020

Units Sold
25
Active Inventory
128
Median Sale Price
$400,000
Days On Market
73
Down -11%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -4%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 25 sold this month in Goochland County Real Estate versus 21 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 11% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 13 units or 9%. The total number of active inventory this February was 128 compared to 141 in February 2019. This month's total of 128 is lower than the previous month's total supply of available inventory of 134, a decrease of 4%.

Median Sale Price
Last February, the median sale price for Goochland County Homes was $416,250. This February, the median sale price was $400,000, a decrease of 4% or $16,250 compared to last year. The current median sold price is 3% 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
52
Current Contracts
43
Sold Vs. List Price
98.9%
Months of Supply
5.1
Up 27%
Vs. Year Ago
Up 95%
Vs. Year Ago
Up 2.9%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In February, there was 5.1 months of supply available in Goochland County. The amount of supply is similar compared to 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 52 homes newly listed for sale in Goochland County compared to 41 in February 2019, an increase of 27%. There were 43 current contracts pending sale this February compared to 22 a year ago. The number of current contracts is 95% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Goochland County was 98.9% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 73, lower than the average last year, which was 94, a decrease of 22%.

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.