The Long & Foster Market Minute

Focus On: Mathews County Housing Market November 2017

Units Sold
9
Active Inventory
126
Median Sale Price
$182,400
Days On Market
120
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 13%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 9 sold this month in Mathews County Real Estate versus 13 last month, a decrease of 31%. This month's total units sold was higher than at this time last year, an increase of 13% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 18%. The total number of active inventory this November was 126 compared to 153 in November 2016. This month's total of 126 is lower than the previous month's total supply of available inventory of 133, a decrease of 5%.

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Median Sale Price
Last November, the median sale price for Mathews County Homes was $163,500. This November, the median sale price was $182,400, an increase of 12% or $18,900 compared to last year. The current median sold price is 1% lower than in October.

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
13
Current Contracts
11
Sold Vs. List Price
93.8%
Months of Supply
14.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -7%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In November, there was 14.0 months of supply available in Mathews County, compared to 19.1 in November 2016. That is a decrease of 27% 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 13 homes newly listed for sale in Mathews County compared to 14 in November 2016, a decrease of 7%. There were 11 current contracts pending sale this November compared to 9 a year ago. The number of current contracts is 22% higher than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Mathews County was 93.8% of the average list price, which is 1.3% lower than at this time last year.

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Days on Market
This month, the average number of days on market was 120, lower than the average last year, which was 147, a decrease of 18%.

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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.