The Long & Foster Market Minute

Focus On: City of Staunton Housing Market August 2019

Units Sold
44
Active Inventory
119
Median Sale Price
$180,700
Days On Market
62
No Change
Vs. Year Ago
Down -24%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 44 sold this month in City of Staunton Real Estate, a decrease of 31%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 24%. The total number of active inventory this August was 119 compared to 156 in August 2018. This month's total of 119 is lower than the previous month's total supply of available inventory of 141, a decrease of 16%.

Median Sale Price
Last August, the median sale price for City of Staunton Homes was $182,250. This August, the median sale price was $180,700, a decrease of 1% or $1,550 compared to last year. The current median sold price is 5% 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.


New Listings
61
Current Contracts
69
Sold Vs. List Price
98.0%
Months of Supply
2.7
Up 11%
Vs. Year Ago
Up 50%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -24%
Vs. Year Ago

Months of Supply
In August, there was 2.7 months of supply available in City of Staunton, compared to 3.5 in August 2018. That is a decrease of 24% 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 61 homes newly listed for sale in City of Staunton compared to 55 in August 2018, an increase of 11%. There were 69 current contracts pending sale this August compared to 46 a year ago. The number of current contracts is 50% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in City of Staunton was 98.0% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 62, higher than the average last year, which was 55, an increase of 13%.

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.