The Long & Foster Market Minute

Focus On: City of Staunton Housing Market December 2019

Units Sold
42
Active Inventory
105
Median Sale Price
$204,000
Days On Market
55
Up 11%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 28%
Vs. Year Ago
Up 10%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 42 sold this month in City of Staunton Real Estate versus 51 last month, a decrease of 18%. This month's total units sold was higher than at this time last year, an increase of 11% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 18%. The total number of active inventory this December was 105 compared to 128 in December 2018. This month's total of 105 is lower than the previous month's total supply of available inventory of 114, a decrease of 8%.

Median Sale Price
Last December, the median sale price for City of Staunton Homes was $159,750. This December, the median sale price was $204,000, an increase of $44,250 compared to last year. The current median sold price is 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
22
Current Contracts
26
Sold Vs. List Price
97.9%
Months of Supply
2.5
Down -21%
Vs. Year Ago
Up 8%
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In December, there was 2.5 months of supply available in City of Staunton, compared to 3.4 in December 2018. That is a decrease of 26% 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 22 homes newly listed for sale in City of Staunton compared to 28 in December 2018, a decrease of 21%. There were 26 current contracts pending sale this December compared to 24 a year ago. The number of current contracts is 8% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in City of Staunton was 97.9% 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 55, higher than the average last year, which was 50, an increase of 10%.

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.