The Long & Foster Market Minute

Focus On: Stafford County Housing Market October 2019

Units Sold
184
Active Inventory
572
Median Sale Price
$366,338
Days On Market
43
Down -1%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 184 sold this month in Stafford County Real Estate versus 225 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 1% versus October 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 190 units or 25%. The total number of active inventory this October was 572 compared to 762 in October 2018. This month's total of 572 is lower than the previous month's total supply of available inventory of 660, a decrease of 13%.

Median Sale Price
Last October, the median sale price for Stafford County Homes was $337,450. This October, the median sale price was $366,338, an increase of 9% or $28,888 compared to last year. The current median sold price is 4% 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
295
Current Contracts
216
Sold Vs. List Price
99.3%
Months of Supply
3.1
Down -4%
Vs. Year Ago
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In October, there was 3.1 months of supply available in Stafford County, compared to 4.1 in October 2018. That is a decrease of 24% 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 295 homes newly listed for sale in Stafford County compared to 307 in October 2018, a decrease of 4%. There were 216 current contracts pending sale this October compared to 200 a year ago. The number of current contracts is 8% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Stafford County was 99.3% 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 43, which is similar compared to a year ago.

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.