The Long & Foster Market Minute

Focus On: Accomack County Housing Market February 2020

Units Sold
30
Active Inventory
369
Median Sale Price
$163,000
Days On Market
223
Up 20%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 30 sold this month in Accomack County Real Estate versus 31 last month, a decrease of 3%. This month's total units sold was higher than at this time last year, an increase of 20% versus February 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 61 units or 14%. The total number of active inventory this February was 369 compared to 430 in February 2019. This month's total of 369 is lower than the previous month's total supply of available inventory of 375, a decrease of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Accomack County Homes was $145,000. This February, the median sale price was $163,000, an increase of $18,000 compared to last year. The current median sold price is lower than 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
52
Current Contracts
41
Sold Vs. List Price
93.0%
Months of Supply
12.3
Up 6%
Vs. Year Ago
Up 46%
Vs. Year Ago
No Change
Vs. Year Ago
Down -28%
Vs. Year Ago

Months of Supply
In February, there was 12.3 months of supply available in Accomack County, compared to 17.2 in February 2019. That is a decrease of 28% 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 52 homes newly listed for sale in Accomack County compared to 49 in February 2019, an increase of 6%. There were 41 current contracts pending sale this February compared to 28 a year ago. The number of current contracts is 46% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Accomack County was 93.0% 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 223, higher than the average last year, which was 216, an increase of 3%.

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 ESAOR 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 ESAOR or Long & Foster Real Estate, Inc.