The Long & Foster Market Minute

Focus On: Mathews County Housing Market February 2019

Units Sold
7
Active Inventory
107
Median Sale Price
$189,000
Days On Market
205
Down
Vs. Year Ago
Down -9%
Vs. Year Ago
Down
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in February, with 7 sold this month in Mathews County Real Estate. This month's total units sold was lower than at this time last year, a decrease from February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 9%. The total number of active inventory this February was 107 compared to 118 in February 2018. This month's total of 107 is lower than the previous month's total supply of available inventory of 116, a decrease of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Mathews County Homes was $258,500. This February, the median sale price was $189,000, a decrease of $69,500 compared to last year. The current median sold price is higher 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
10
Current Contracts
9
Sold Vs. List Price
77.7%
Months of Supply
15.3
Down -58%
Vs. Year Ago
Down -31%
Vs. Year Ago
Down
Vs. Year Ago
Up 30%
Vs. Year Ago

Months of Supply
In February, there was 15.3 months of supply available in Mathews County, compared to 11.8 in February 2018. That is an increase of 30% 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 10 homes newly listed for sale in Mathews County compared to 24 in February 2018, a decrease of 58%. There were 9 current contracts pending sale this February compared to 13 a year ago. The number of current contracts is 31% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Mathews County was 77.7% of the average list price, which is lower than at this time last year.

Days on Market
This month, the average number of days on market was 205, higher than the average last year, which was 121. This increase was impacted by the limited number of sales.

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 CBRAR 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 CBRAR or Long & Foster Real Estate, Inc.