The Long & Foster Market Minute

Focus On: Shenandoah County Housing Market October 2022

Units Sold
70
Active Inventory
80
Median Sale Price
$290,500
Days On Market
17
Up 9%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 70 sold this month in Shenandoah County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 22%. The total number of active inventory this October was 80 compared to 103 in October 2021. This month's total of 80 is lower than the previous month's total supply of available inventory of 83, a decrease of 4%.

Median Sale Price
Last October, the median sale price for Shenandoah County Homes was $265,250. This October, the median sale price was $290,500, an increase of 10% or $25,250 compared to last year. The current median sold price is 2% lower 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
70
Current Contracts
63
Sold Vs. List Price
97.7%
Months of Supply
1.1
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -1.9%
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In October, there was 1.1 months of supply available in Shenandoah County, compared to 1.6 in October 2021. That is a decrease of 29% 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 70 homes newly listed for sale in Shenandoah County, which is similar to the amount in October 2021. There were 63 current contracts pending sale this October compared to 71 a year ago. The number of current contracts is 11% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Shenandoah County was 97.7% of the average list price, which is 1.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 17, lower than the average last year, which was 21, a decrease of 19%.

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.