The Long & Foster Market Minute

Focus On: Mathews County Housing Market August 2018

Units Sold
12
Active Inventory
128
Median Sale Price
$151,450
Days On Market
70
Down
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -21%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in August, with 12 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 August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 14%. The total number of active inventory this August was 128 compared to 148 in August 2017. This month's total of 128 is lower than the previous month's total supply of available inventory of 132, a decrease of 3%.

Median Sale Price
Last August, the median sale price for Mathews County Homes was $190,700. This August, the median sale price was $151,450, a decrease of 21% or $39,250 compared to last year. The current median sold price is 22% lower than in July.

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
10
Sold Vs. List Price
95.6%
Months of Supply
10.7
Down -31%
Vs. Year Ago
Down -41%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In August, there was 10.7 months of supply available in Mathews County, compared to 9.3 in August 2017. That is an increase of 15% 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 26 in August 2017, a decrease of 31%. There were 10 current contracts pending sale this August compared to 17 a year ago. The number of current contracts is 41% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Mathews County was 95.6% of the average list price, which is 2.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 70, lower than the average last year, which was 193. This decrease 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.