Bedford County and Bedford City Housing Market Data

There was an increase in total units sold in August, with 93 sold this month in Bedford County and Bedford City Real Estate versus 92 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 18% versus August 2022.

Versus last year, the total number of homes available this month is higher by 16 units or 10%. The total number of active inventory this August was 174 compared to 158 in August 2022. This month's total of 174 is lower than the previous month's total supply of available inventory of 190, a decrease of 8%.

Last August, the median sale price for Bedford County and Bedford City Homes was $309,000. This August, the median sale price was $365,000, an increase of 18% or $56,000 compared to last year. The current median sold price is 14% higher 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.

In August, there was 1.9 months of supply available in Bedford County and Bedford City, compared to 1.4 in August 2022. That is an increase of 34% 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.

This month there were 88 homes newly listed for sale in Bedford County and Bedford City compared to 109 in August 2022, a decrease of 19%. There were 86 current contracts pending sale this August compared to 99 a year ago. The number of current contracts is 13% lower than last August.

In August, the average sale price in Bedford County and Bedford City was 98.5% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 19, lower than the average last year, which was 20, a decrease of 5%.





Focus On: Bedford County and Bedford City Housing Market			August 2023

Units Sold 93	Active Inventory 174	Median Sale Price $365,000	Days On Market 19

Down -18% Vs. Year Ago	Up 10% Vs. Year Ago	Up 18% Vs. Year Ago	Down -5% Vs. Year Ago


		Units Sold There was an increase in total units sold in August, with 93 sold this month in Bedford County and Bedford City Real Estate versus 92 last month, an increase of 1%. This month's total units sold was lower than at this time last year, a decrease of 18% versus August 2022.
Active Inventory Versus last year, the total number of homes available this month is higher by 16 units or 10%. The total number of active inventory this August was 174 compared to 158 in August 2022. This month's total of 174 is lower than the previous month's total supply of available inventory of 190, a decrease of 8%.
		Median Sale Price Last August, the median sale price for Bedford County and Bedford City Homes was $309,000. This August, the median sale price was $365,000, an increase of 18% or $56,000 compared to last year. The current median sold price is 14% higher 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.



New Listings 88	Current Contracts 86	Sold Vs. List Price 98.5%	Months of Supply 1.9

Down -19% Vs. Year Ago	Down -13% Vs. Year Ago	No Change Vs. Year Ago	Up 34% Vs. Year Ago


		Months of Supply In August, there was 1.9 months of supply available in Bedford County and Bedford City, compared to 1.4 in August 2022. That is an increase of 34% 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 88 homes newly listed for sale in Bedford County and Bedford City compared to 109 in August 2022, a decrease of 19%. There were 86 current contracts pending sale this August compared to 99 a year ago. The number of current contracts is 13% lower than last August.
		Sale Price to List Price Ratio In August, the average sale price in Bedford County and Bedford City was 98.5% 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 19, lower than the average last year, which was 20, a decrease of 5%.



	*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 LAR 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 LAR or Long & Foster Real Estate, Inc.