The Long & Foster Market Minute

Focus On: Augusta County Housing Market August 2019

Units Sold
48
Active Inventory
139
Median Sale Price
$230,000
Days On Market
74
Down -17%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 90%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 48 sold this month in Augusta County Real Estate versus 68 last month, a decrease of 29%. This month's total units sold was lower than at this time last year, a decrease of 17% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 13%. The total number of active inventory this August was 139 compared to 159 in August 2018. This month's total of 139 is lower than the previous month's total supply of available inventory of 140, a decrease of 1%.

Median Sale Price
Last August, the median sale price for Augusta County Homes was $186,450. This August, the median sale price was approximately the same at $230,000. The current median sold price is 23% higher than in August 2018.

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


New Listings
60
Current Contracts
54
Sold Vs. List Price
98.3%
Months of Supply
2.9
Down -15%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Up 6%
Vs. Year Ago

Months of Supply
In August, there was 2.9 months of supply available in Augusta County, compared to 2.7 in August 2018. That is an increase of 6% 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 60 homes newly listed for sale in Augusta County compared to 71 in August 2018, a decrease of 15%. There were 54 current contracts pending sale this August compared to 49 a year ago. The number of current contracts is 10% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Augusta County was 98.3% 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 74, higher than the average last year, which was 39, an increase of 90%.

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 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.