The Long & Foster Market Minute
Focus On: Stafford County Housing Market October 2016
Units Sold
176
Active Inventory
703
Median Sale Price
$309,950
Days On Market
47
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 7%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -10%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in October, with 176 sold this month in Stafford County Real Estate versus 204 last month, a decrease of 14%. This month's total units sold was higher than at this time last year, an increase of 7% versus October 2015.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 178 units or 20%. The total number of active inventory this October was 703 compared to 881 in October 2015. This month's total of 703 is lower than the previous month's total supply of available inventory of 771, a decrease of 9%.

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Median Sale Price
Last October, the median sale price for Stafford County Homes was $296,000. This October, the median sale price was $309,950, an increase of 5% or $13,950 compared to last year. The current median sold price is 1% lower 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.

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New Listings
248
Current Contracts
186
Sold Vs. List Price
98.8%
Months of Supply
4.0
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -5%
Vs. Year Ago
Up 19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -25%
Vs. Year Ago
Months of Supply
In October, there was 4.0 months of supply available in Stafford County, compared to 5.3 in October 2015. That is a decrease of 25% 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 248 homes newly listed for sale in Stafford County compared to 260 in October 2015, a decrease of 5%. There were 186 current contracts pending sale this October compared to 156 a year ago. The number of current contracts is 19% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Stafford County was 98.8% 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 47, lower than the average last year, which was 52, a decrease of 10%.

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*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.