The Long & Foster Market Minute

Focus On: Mathews County Housing Market June 2018

Units Sold
10
Active Inventory
134
Median Sale Price
$157,500
Days On Market
100
Up
Vs. Year Ago
Down -13%
Vs. Year Ago
Down
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in June, with 10 sold this month in Mathews County Real Estate. This month's total units sold was higher than at this time last year, an increase from June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 13%. The total number of active inventory this June was 134 compared to 154 in June 2017. This month's total of 134 is higher than the previous month's total supply of available inventory of 132, an increase of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Mathews County Homes was $223,175. This June, the median sale price was $157,500, a decrease of $65,675 compared to last year. The current median sold price is lower than in May.

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


New Listings
18
Current Contracts
11
Sold Vs. List Price
94.0%
Months of Supply
13.4
Down -25%
Vs. Year Ago
No Change
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In June, there was 13.4 months of supply available in Mathews County, compared to 19.3 in June 2017. That is a decrease 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 18 homes newly listed for sale in Mathews County compared to 24 in June 2017, a decrease of 25%. There were 11 current contracts pending sale this June, consistent with the volume a year ago. The number of current contracts is 21% lower than last month.

Sale Price to List Price Ratio
In June, the average sale price in Mathews County was 94.0% 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 100, lower than the average last year, which was 137, a decrease of 27%.

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.