The Long & Foster Market Minute

Focus On: City of Waynesboro Housing Market May 2020

Units Sold
46
Active Inventory
52
Median Sale Price
$263,750
Days On Market
40
Down -16%
Vs. Year Ago
Down -57%
Vs. Year Ago
Up 32%
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 46 sold this month in City of Waynesboro Real Estate versus 37 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 16% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 68 units or 57%. The total number of active inventory this May was 52 compared to 120 in May 2019. This month's total of 52 is lower than the previous month's total supply of available inventory of 68, a decrease of 24%.

Median Sale Price
Last May, the median sale price for City of Waynesboro Homes was $200,000. This May, the median sale price was $263,750, an increase of $63,750 compared to last year. The current median sold price is higher than in April.

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


New Listings
48
Current Contracts
58
Sold Vs. List Price
99.5%
Months of Supply
1.1
Down -47%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -48%
Vs. Year Ago

Months of Supply
In May, there was 1.1 months of supply available in City of Waynesboro, compared to 2.2 in May 2019. That is a decrease of 48% 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 48 homes newly listed for sale in City of Waynesboro compared to 90 in May 2019, a decrease of 47%. There were 58 current contracts pending sale this May compared to 68 a year ago. The number of current contracts is 15% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in City of Waynesboro was 99.5% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 40, lower than the average last year, which was 41, a decrease of 2%.

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.