The Long & Foster Market Minute

Focus On: Warren County Housing Market March 2021

Units Sold
54
Active Inventory
64
Median Sale Price
$294,500
Days On Market
34
Down -10%
Vs. Year Ago
Down -68%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 54 sold this month in Warren County Real Estate versus 61 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 10% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 134 units or 68%. The total number of active inventory this March was 64 compared to 198 in March 2020. This month's total of 64 is lower than the previous month's total supply of available inventory of 69, a decrease of 7%.

Median Sale Price
Last March, the median sale price for Warren County Homes was $263,900. This March, the median sale price was $294,500, an increase of 12% or $30,600 compared to last year. The current median sold price is 11% higher than in February.

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


New Listings
111
Current Contracts
94
Sold Vs. List Price
100.5%
Months of Supply
1.2
Down -7%
Vs. Year Ago
Up 32%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -64%
Vs. Year Ago

Months of Supply
In March, there was 1.2 months of supply available in Warren County, compared to 3.3 in March 2020. That is a decrease of 64% 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 111 homes newly listed for sale in Warren County compared to 119 in March 2020, a decrease of 7%. There were 94 current contracts pending sale this March compared to 71 a year ago. The number of current contracts is 32% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Warren County was 100.5% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 63, a decrease of 46%.

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.