The Long & Foster Market Minute

Focus On: Shenandoah County Housing Market February 2020

Units Sold
39
Active Inventory
180
Median Sale Price
$229,900
Days On Market
100
Down -9%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up
Vs. Year Ago
Down -1%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 39 sold this month in Shenandoah County Real Estate versus 53 last month, a decrease of 26%. This month's total units sold was lower than at this time last year, a decrease of 9% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 14%. The total number of active inventory this February was 180 compared to 209 in February 2019. This month's total of 180 is lower than the previous month's total supply of available inventory of 197, a decrease of 9%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Shenandoah County Homes was $176,000. This February, the median sale price was $229,900, an increase of $53,900 compared to last year. The current median sold price is higher than in January.

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


New Listings
61
Current Contracts
65
Sold Vs. List Price
96.5%
Months of Supply
4.6
Up 13%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -5%
Vs. Year Ago

Months of Supply
In February, there was 4.6 months of supply available in Shenandoah County, compared to 4.9 in February 2019. That is a decrease of 5% 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 61 homes newly listed for sale in Shenandoah County compared to 54 in February 2019, an increase of 13%. There were 65 current contracts pending sale this February compared to 59 a year ago. The number of current contracts is 10% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Shenandoah County was 96.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 100, lower than the average last year, which was 101, a decrease of 1%.

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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.