The Long & Foster Market Minute

Focus On: Worcester County Housing Market February 2019

Units Sold
115
Active Inventory
1,117
Median Sale Price
$254,900
Days On Market
111
Up 19%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 115 sold this month in Worcester County Real Estate versus 107 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 19% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 73 units or 6%. The total number of active inventory this February was 1117 compared to 1,190 in February 2018. This month's supply remained stable as compared to last month.

Median Sale Price
Last February, the median sale price for Worcester County Homes was $255,000. This February, the median sale price was approximately the same at $254,900. The current median sold price is also similar to the median price in January.

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


New Listings
279
Current Contracts
204
Sold Vs. List Price
95.3%
Months of Supply
9.7
Up 6%
Vs. Year Ago
Up 24%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In February, there was 9.7 months of supply available in Worcester County, compared to 12.3 in February 2018. That is a decrease of 21% 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 279 homes newly listed for sale in Worcester County compared to 264 in February 2018, an increase of 6%. There were 204 current contracts pending sale this February compared to 165 a year ago. The number of current contracts is 24% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Worcester County was 95.3% 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 111, lower than the average last year, which was 134, a decrease of 17%.

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.