The Long & Foster Market Minute

Focus On: Mathews County Housing Market October 2018

Units Sold
8
Active Inventory
131
Median Sale Price
$175,312
Days On Market
132
Down -38%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
The number of units sold remained stable in October, with 8 sold this month in Mathews County Real Estate. This month's total units sold was lower than at this time last year, a decrease of 19% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 5%. The total number of active inventory this October was 131 compared to 138 in October 2017. This month's total of 131 is higher than the previous month's total supply of available inventory of 129, 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 October, the median sale price for Mathews County Homes was $184,900. This October, the median sale price was $175,312, a decrease of $9,588 compared to last year. The current median sold price is higher than in September.

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


New Listings
19
Current Contracts
6
Sold Vs. List Price
89.8%
Months of Supply
16.4
Up 19%
Vs. Year Ago
Down -54%
Vs. Year Ago
Down
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In October, there was 16.4 months of supply available in Mathews County, compared to 10.6 in October 2017. That is an increase 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 19 homes newly listed for sale in Mathews County compared to 16 in October 2017, an increase of 19%. There were 6 current contracts pending sale this October compared to 13 a year ago. The number of current contracts is 54% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Mathews County was 89.8% 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 132, lower than the average last year, which was 162, a decrease of 19%.

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.