The Long & Foster Market Minute

Focus On: Stafford County Housing Market May 2018

Units Sold
274
Active Inventory
760
Median Sale Price
$330,500
Days On Market
26
Up 2%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -28%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 274 sold this month in Stafford County Real Estate versus 219 last month, an increase of 25%. This month's total units sold was higher than at this time last year, an increase of 2% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 2%. The total number of active inventory this May was 760 compared to 772 in May 2017. This month's supply remained stable as compared to last month.

Median Sale Price
Last May, the median sale price for Stafford County Homes was $335,000. This May, the median sale price was $330,500, a decrease of 1% or $4,500 compared to last year. The current median sold price is 4% lower than in April.

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


New Listings
471
Current Contracts
307
Sold Vs. List Price
99.4%
Months of Supply
2.8
Up 11%
Vs. Year Ago
Up 3%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 2.8 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 471 homes newly listed for sale in Stafford County compared to 425 in May 2017, an increase of 11%. There were 307 current contracts pending sale this May compared to 299 a year ago. The number of current contracts is 3% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Stafford County was 99.4% 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 26, lower than the average last year, which was 36, a decrease of 28%.

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.