The Long & Foster Market Minute

Focus On: Warren County Housing Market October 2022

Units Sold
45
Active Inventory
102
Median Sale Price
$320,000
Days On Market
26
Down
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 45 sold this month in Warren County Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 10 units or 9%. The total number of active inventory this October was 102 compared to 112 in October 2021. This month's total of 102 is lower than the previous month's total supply of available inventory of 109, a decrease of 6%.

Median Sale Price
Last October, the median sale price for Warren County Homes was $325,000. This October, the median sale price was $320,000, a decrease of 2% or $5,000 compared to last year. The current median sold price is 9% 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
58
Current Contracts
44
Sold Vs. List Price
98.5%
Months of Supply
2.3
Down -30%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Up 44%
Vs. Year Ago

Months of Supply
In October, there was 2.3 months of supply available in Warren County, compared to 1.6 in October 2021. That is an increase of 44% 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 58 homes newly listed for sale in Warren County compared to 83 in October 2021, a decrease of 30%. There were 44 current contracts pending sale this October compared to 66 a year ago. The number of current contracts is 33% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Warren County was 98.5% of the average list price, which is 0.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 32, 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.