The Long & Foster Market Minute

Focus On: Augusta County Housing Market December 2019

Units Sold
40
Active Inventory
91
Median Sale Price
$220,500
Days On Market
48
Up 14%
Vs. Year Ago
Down -23%
Vs. Year Ago
No Change
Vs. Year Ago
Up 26%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 40 sold this month in Augusta County Real Estate versus 45 last month, a decrease of 11%. This month's total units sold was higher than at this time last year, an increase of 14% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 23%. The total number of active inventory this December was 91 compared to 118 in December 2018. This month's total of 91 is lower than the previous month's total supply of available inventory of 106, a decrease of 14%.

Median Sale Price
Last December, the median sale price for Augusta County Homes was $219,900. This December, the median sale price was $220,500, which is similar compared to a year ago. The current median sold price is 19% higher 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
25
Current Contracts
28
Sold Vs. List Price
99.3%
Months of Supply
2.3
Up 32%
Vs. Year Ago
Up 22%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In December, there was 2.3 months of supply available in Augusta County, compared to 3.4 in December 2018. That is a decrease of 33% 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 25 homes newly listed for sale in Augusta County compared to 19 in December 2018, an increase of 32%. There were 28 current contracts pending sale this December compared to 23 a year ago. The number of current contracts is 22% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Augusta County was 99.3% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 48, higher than the average last year, which was 38, an increase of 26%.

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.