The Long & Foster Market Minute

Focus On: Stafford County Housing Market March 2018

Units Sold
221
Active Inventory
579
Median Sale Price
$335,000
Days On Market
43
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 12%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 221 sold this month in Stafford County Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 144 units or 20%. The total number of active inventory this March was 579 compared to 723 in March 2017. This month's total of 579 is higher than the previous month's total supply of available inventory of 563, an increase of 3%.

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Median Sale Price
Last March, the median sale price for Stafford County Homes was $312,450. This March, the median sale price was $335,000, an increase of 7% or $22,550 compared to last year. The current median sold price is 4% lower than in February.

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

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New Listings
423
Current Contracts
293
Sold Vs. List Price
99.1%
Months of Supply
2.6
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -6%
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -28%
Vs. Year Ago

Months of Supply
In March, there was 2.6 months of supply available in Stafford County, compared to 3.7 in March 2017. That is a decrease of 28% 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.

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New Listings & Current Contracts
This month there were 423 homes newly listed for sale in Stafford County compared to 449 in March 2017, a decrease of 6%. There were 293 current contracts pending sale this March compared to 276 a year ago. The number of current contracts is 6% higher than last March.

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Click here to compare the current contracts of this area against other locations.
Sale Price to List Price Ratio
In March, the average sale price in Stafford County was 99.1% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 57, a decrease of 25%.

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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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.