The Long & Foster Market Minute

Focus On: Worcester County Housing Market December 2018

Units Sold
131
Active Inventory
1,075
Median Sale Price
$238,000
Days On Market
105
Down -32%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 131 sold this month in Worcester 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 85 units or 7%. The total number of active inventory this December was 1,075 compared to 1,160 in December 2017. This month's total of 1,075 is lower than the previous month's total supply of available inventory of 1,177, a decrease of 9%.

Median Sale Price
Last December, the median sale price for Worcester County Homes was $250,000. This December, the median sale price was $238,000, a decrease of 5% or $12,000 compared to last year. The current median sold price is 4% lower than in November.

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


New Listings
115
Current Contracts
108
Sold Vs. List Price
95.7%
Months of Supply
8.2
Down -27%
Vs. Year Ago
Up 13%
Vs. Year Ago
No Change
Vs. Year Ago
Up 36%
Vs. Year Ago

Months of Supply
In December, there was 8.2 months of supply available in Worcester County, compared to 6.0 in December 2017. That is an increase of 36% 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 115 homes newly listed for sale in Worcester County compared to 157 in December 2017, a decrease of 27%. There were 108 current contracts pending sale this December compared to 96 a year ago. The number of current contracts is 13% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Worcester County was 95.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 105, higher than the average last year, which was 93, an increase of 13%.

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.