The Long & Foster Market Minute

Focus On: Stafford County Housing Market October 2018

Units Sold
178
Active Inventory
727
Median Sale Price
$337,000
Days On Market
65
Down -1%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 27%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 178 sold this month in Stafford County Real Estate versus 213 last month, a decrease of 16%. This month's total units sold was lower than at this time last year, a decrease of 1% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 6 units or 1%. The total number of active inventory this October was 727 compared to 733 in October 2017. This month's total of 727 is lower than the previous month's total supply of available inventory of 779, a decrease of 7%.

Median Sale Price
Last October, the median sale price for Stafford County Homes was $320,000. This October, the median sale price was $337,000, an increase of 5% or $17,000 compared to last year. The current median sold price is 1% 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
309
Current Contracts
212
Sold Vs. List Price
98.6%
Months of Supply
4.1
Up 10%
Vs. Year Ago
Up 13%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 4.1 months of supply available in Stafford County. The amount of supply is similar compared to 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 309 homes newly listed for sale in Stafford County compared to 281 in October 2017, an increase of 10%. There were 212 current contracts pending sale this October compared to 187 a year ago. The number of current contracts is 13% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Stafford County was 98.6% 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 65, higher than the average last year, which was 51, an increase of 27%.

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.