The Long & Foster Market Minute

Focus On: Stafford County Housing Market May 2020

Units Sold
247
Active Inventory
316
Median Sale Price
$385,000
Days On Market
22
Down -17%
Vs. Year Ago
Down -56%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 247 sold this month in Stafford County Real Estate versus 267 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 17% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 410 units or 56%. The total number of active inventory this May was 316 compared to 726 in May 2019. This month's total of 316 is lower than the previous month's total supply of available inventory of 472, a decrease of 33%.

Median Sale Price
Last May, the median sale price for Stafford County Homes was $351,500. This May, the median sale price was $385,000, an increase of 10% or $33,500 compared to last year. The current median sold price is 3% 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
305
Current Contracts
411
Sold Vs. List Price
99.7%
Months of Supply
1.3
Down -29%
Vs. Year Ago
Up 46%
Vs. Year Ago
No Change
Vs. Year Ago
Down -48%
Vs. Year Ago

Months of Supply
In May, there was 1.3 months of supply available in Stafford County, compared to 2.4 in May 2019. That is a decrease of 47% 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 305 homes newly listed for sale in Stafford County compared to 428 in May 2019, a decrease of 29%. There were 411 current contracts pending sale this May compared to 281 a year ago. The number of current contracts is 46% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Stafford County was 99.7% 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 22, lower than the average last year, which was 32, a decrease of 31%.

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.