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| Focus On: Albemarle County Housing Market | August 2019 | ||
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| Units Sold 151 |
Active Inventory 494 |
Median Sale Price $359,000 |
Days On Market 50 |
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| Up 9% Vs. Year Ago |
Down -13% Vs. Year Ago |
Down -12% Vs. Year Ago |
Down -24% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in August, with 151 sold this month in Albemarle County Real Estate versus 214 last month, a decrease of 29%. This month's total units sold was higher than at this time last year, an increase of 9% versus August 2018. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 73 units or 13%. The total number of active inventory this August was 494 compared to 567 in August 2018. This month's total of 494 is lower than the previous month's total supply of available inventory of 521, a decrease of 5%. |
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Median Sale Price
Last August, the median sale price for Albemarle County Homes was $406,500. This August, the median sale price was $359,000, a decrease of 12% or $47,500 compared to last year. The current median sold price is 8% lower than in July. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 185 |
Current Contracts 163 |
Sold Vs. List Price 97.1% |
Months of Supply 3.3 |
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| Up 10% Vs. Year Ago |
Up 41% Vs. Year Ago |
Down -0.8% Vs. Year Ago |
Down -20% Vs. Year Ago |
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Months of Supply
In August, there was 3.3 months of supply available in Albemarle County, compared to 4.1 in August 2018. That is a decrease of 20% 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. |
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New Listings & Current Contracts
This month there were 185 homes newly listed for sale in Albemarle County compared to 168 in August 2018, an increase of 10%. There were 163 current contracts pending sale this August compared to 116 a year ago. The number of current contracts is 41% higher than last August. |
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Sale Price to List Price Ratio
In August, the average sale price in Albemarle County was 97.1% of the average list price, which is 0.8% lower than at this time last year. Days on Market
This month, the average number of days on market was 50, lower than the average last year, which was 66, a decrease of 24%. | |||
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| *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. | |||
 Information included in this report is based on data supplied by CGAHR 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 CGAHR or Long & Foster Real Estate, Inc. |
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