The Long & Foster Market Minute

Focus On: Mathews County Housing Market April 2018

Units Sold
14
Active Inventory
113
Median Sale Price
$220,000
Days On Market
160
No Change
Vs. Year Ago
Down -19%
Vs. Year Ago
Down
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 14 sold this month in Mathews County Real Estate, an increase of 17%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 19%. The total number of active inventory this April was 113 compared to 140 in April 2017. This month's total of 113 is higher than the previous month's total supply of available inventory of 109, an increase of 4%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for Mathews County Homes was $239,000. This April, the median sale price was $220,000, a decrease of $19,000 compared to last year. The current median sold price is lower than in March.

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


New Listings
27
Current Contracts
8
Sold Vs. List Price
95.9%
Months of Supply
8.1
Up 8%
Vs. Year Ago
Down -53%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In April, there was 8.1 months of supply available in Mathews County, compared to 10.0 in April 2017. That is a decrease of 19% 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 27 homes newly listed for sale in Mathews County compared to 25 in April 2017, an increase of 8%. There were 8 current contracts pending sale this April compared to 17 a year ago. The number of current contracts is 53% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Mathews County was 95.9% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 160, lower than the average last year, which was 272, a decrease of 41%.

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.