The Long & Foster Market Minute

Focus On: Stafford County Housing Market August 2017

Units Sold
237
Active Inventory
743
Median Sale Price
$329,900
Days On Market
37
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -12%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 237 sold this month in Stafford County Real Estate versus 290 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 12% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 51 units or 6%. The total number of active inventory this August was 743 compared to 794 in August 2016. This month's total of 743 is lower than the previous month's total supply of available inventory of 783, a decrease of 5%.

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Median Sale Price
Last August, the median sale price for Stafford County Homes was $300,000. This August, the median sale price was $329,900, an increase of 10% or $29,900 compared to last year. The current median sold price is 3% lower than in July.

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
351
Current Contracts
224
Sold Vs. List Price
98.8%
Months of Supply
3.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 16%
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago
Up 7%
Vs. Year Ago

Months of Supply
In August, there was 3.1 months of supply available in Stafford County, compared to 2.9 in August 2016. That is an increase of 7% 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 351 homes newly listed for sale in Stafford County compared to 302 in August 2016, an increase of 16%. There were 224 current contracts pending sale this August compared to 211 a year ago. The number of current contracts is 6% higher than last August.

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Sale Price to List Price Ratio
In August, 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 37, lower than the average last year, which was 40, a decrease of 8%.

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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.