The Long & Foster Market Minute

Focus On: Worcester County Housing Market September 2018

Units Sold
86
Active Inventory
595
Median Sale Price
$277,250
Days On Market
78
Down -5%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -46%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 86 sold this month in Worcester County Real Estate versus 101 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 5% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 25 units or 4%. The total number of active inventory this September was 595 compared to 570 in September 2017. This month's total of 595 is higher than the previous month's total supply of available inventory of 584, an increase of 2%.

Median Sale Price
Last September, the median sale price for Worcester County Homes was $242,500. This September, the median sale price was $277,250, an increase of 14% or $34,750 compared to last year. The current median sold price is 13% higher than in August.

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


New Listings
197
Current Contracts
131
Sold Vs. List Price
95.3%
Months of Supply
6.9
Up 61%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 11%
Vs. Year Ago

Months of Supply
In September, there was 6.9 months of supply available in Worcester County, compared to 6.3 in September 2017. That is an increase of 10% 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 197 homes newly listed for sale in Worcester County compared to 122 in September 2017, an increase of 61%. There were 131 current contracts pending sale this September compared to 102 a year ago. The number of current contracts is 28% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Worcester County was 95.3% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 78, lower than the average last year, which was 144, 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.