The Long & Foster Market Minute
Focus On: Lamberts Point, Ghent, and Alt Housing Market May 2017
Zip Code(s): 23508, 23517, 23507, 23501, 23510 and 23514
Units Sold
47
Active Inventory
217
Median Sale Price
$290,000
Days On Market
63
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 7%
Vs. Year Ago
Down -40%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -15%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in May, with 47 sold this month in Lamberts Point, Ghent, and Alt Real Estate versus 50 last month, a decrease of 6%. This month's total units sold was higher than at this time last year, an increase of 7% versus May 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 142 units or 40%. The total number of active inventory this May was 217 compared to 359 in May 2016. This month's total of 217 is lower than the previous month's total supply of available inventory of 234, a decrease of 7%.

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Median Sale Price
Last May, the median sale price for Lamberts Point, Ghent, and Alt Homes was $314,500. This May, the median sale price was $290,000, a decrease of 8% or $24,500 compared to last year. The current median sold price is 5% higher than in April.

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

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New Listings
79
Current Contracts
65
Sold Vs. List Price
98.0%
Months of Supply
4.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -6%
Vs. Year Ago
Up 97%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -43%
Vs. Year Ago
Months of Supply
In May, there was 4.6 months of supply available in Lamberts Point, Ghent, and Alt, compared to 8.2 in May 2016. That is a decrease of 43% 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.

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New Listings & Current Contracts
This month there were 79 homes newly listed for sale in Lamberts Point, Ghent, and Alt compared to 84 in May 2016, a decrease of 6%. There were 65 current contracts pending sale this May compared to 33 a year ago. The number of current contracts is 97% higher than last May.

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Sale Price to List Price Ratio
In May, the average sale price in Lamberts Point, Ghent, and Alt was 98.0% of the average list price, which is 0.6% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 63, lower than the average last year, which was 74, a decrease of 15%.

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Lamberts Point, Ghent, and Alt are defined as properties listed in zip code/s 23508, 23517, 23507, 23501, 23510 and 23514.
*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.