The Long & Foster Market Minute

Focus On: Worcester County Housing Market April 2019

Units Sold
218
Active Inventory
1,136
Median Sale Price
$262,500
Days On Market
99
Up 18%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 218 sold this month in Worcester County Real Estate versus 204 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 18% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 104 units or 8%. The total number of active inventory this April was 1,136 compared to 1,240 in April 2018. This month's total of 1,136 is higher than the previous month's total supply of available inventory of 1,121, an increase of 1%.

Median Sale Price
Last April, the median sale price for Worcester County Homes was $237,500. This April, the median sale price was $262,500, an increase of 11% or $25,000 compared to last year. The current median sold price is 3% higher than in March.

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


New Listings
338
Current Contracts
231
Sold Vs. List Price
96.8%
Months of Supply
5.2
Up 11%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In April, there was 5.2 months of supply available in Worcester County, compared to 6.7 in April 2018. That is a decrease of 23% 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 338 homes newly listed for sale in Worcester County compared to 305 in April 2018, an increase of 11%. There were 231 current contracts pending sale this April compared to 203 a year ago. The number of current contracts is 14% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Worcester County was 96.8% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 99, lower than the average last year, which was 111, a decrease of 11%.

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.