The Long & Foster Market Minute

Focus On: Spotsylvania County Housing Market December 2019

Units Sold
166
Active Inventory
409
Median Sale Price
$285,000
Days On Market
47
Up 13%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 166 sold this month in Spotsylvania County Real Estate versus 162 last month, an increase of 2%. This month's total units sold was higher than at this time last year, an increase of 13% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 147 units or 26%. The total number of active inventory this December was 409 compared to 556 in December 2018. This month's total of 409 is lower than the previous month's total supply of available inventory of 649, a decrease of 37%.

Median Sale Price
Last December, the median sale price for Spotsylvania County Homes was $275,100. This December, the median sale price was $285,000, an increase of 4% or $9,900 compared to last year. The current median sold price is 7% lower than in November.

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


New Listings
145
Current Contracts
141
Sold Vs. List Price
99.2%
Months of Supply
2.5
No Change
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -35%
Vs. Year Ago

Months of Supply
In December, there was 2.5 months of supply available in Spotsylvania County, compared to 3.8 in December 2018. That is a decrease of 35% 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 145 homes newly listed for sale in Spotsylvania County, which is similar to the amount in December 2018. There were 141 current contracts pending sale this December compared to 114 a year ago. The number of current contracts is 24% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Spotsylvania County was 99.2% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 47, lower than the average last year, which was 60, a decrease of 22%.

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.