The Long & Foster Market Minute

Focus On: Nelson County Housing Market October 2019

Units Sold
41
Active Inventory
245
Median Sale Price
$285,000
Days On Market
132
Up 21%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 41 sold this month in Nelson County Real Estate versus 38 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 21% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 24 units or 9%. The total number of active inventory this October was 245 compared to 269 in October 2018. This month's total of 245 is higher than the previous month's total supply of available inventory of 242, an increase of 1%.

Median Sale Price
Last October, the median sale price for Nelson County Homes was $244,750. This October, the median sale price was $285,000, an increase of 16% or $40,250 compared to last year. The current median sold price is 20% 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
62
Current Contracts
39
Sold Vs. List Price
94.9%
Months of Supply
6.0
Up 82%
Vs. Year Ago
Up 50%
Vs. Year Ago
Up 3.1%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In October, there was 6.0 months of supply available in Nelson County, compared to 7.9 in October 2018. That is a decrease of 24% 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 62 homes newly listed for sale in Nelson County compared to 34 in October 2018, an increase of 82%. There were 39 current contracts pending sale this October compared to 26 a year ago. The number of current contracts is 50% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Nelson County was 94.9% of the average list price, which is 2.8% higher 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 159, a decrease of 17%.

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 CGAHR 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 CGAHR or Long & Foster Real Estate, Inc.