The Long & Foster Market Minute

Focus On: Hampton City Housing Market February 2020

Units Sold
153
Active Inventory
371
Median Sale Price
$183,000
Days On Market
57
Up 2%
Vs. Year Ago
Down -45%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -15%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 153 sold this month in Hampton City Real Estate versus 143 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 2% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 306 units or 45%. The total number of active inventory this February was 371 compared to 677 in February 2019. This month's total of 371 is lower than the previous month's total supply of available inventory of 459, a decrease of 19%.

Median Sale Price
Last February, the median sale price for Hampton City Homes was $161,750. This February, the median sale price was $183,000, an increase of 13% or $21,250 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
204
Current Contracts
244
Sold Vs. List Price
98.4%
Months of Supply
2.4
Down -21%
Vs. Year Ago
Up 41%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In February, there was 2.4 months of supply available in Hampton City, compared to 4.5 in February 2019. That is a decrease of 46% 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 204 homes newly listed for sale in Hampton City compared to 259 in February 2019, a decrease of 21%. There were 244 current contracts pending sale this February compared to 173 a year ago. The number of current contracts is 41% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Hampton City was 98.4% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 67, a decrease of 15%.

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 REIN 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 REIN or Long & Foster Real Estate, Inc.