The Long & Foster Market Minute

Focus On: Gayton, Godwin, and Wellesley Housing Market April 2019

Zip Code(s): 23233
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 23%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 78%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 53 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 45 last month, an increase of 18%. This month's total units sold was higher than at this time last year, an increase of 23% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 19%. The total number of active inventory this April was 87 compared to 107 in April 2018. This month's total of 87 is lower than the previous month's total supply of available inventory of 106, a decrease of 18%.

Median Sale Price
Last April, the median sale price for Gayton, Godwin, and Wellesley Homes was $331,500. This April, the median sale price was $377,000, an increase of 14% or $45,500 compared to last year. The current median sold price is 6% higher than in March.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -15%
Vs. Year Ago
Up 24%
Vs. Year Ago
Down -3.2%
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In April, there was 1.6 months of supply available in Gayton, Godwin, and Wellesley, compared to 2.5 in April 2018. That is a decrease 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 61 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 72 in April 2018, a decrease of 15%. There were 72 current contracts pending sale this April compared to 58 a year ago. The number of current contracts is 24% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Gayton, Godwin, and Wellesley was 100.0% of the average list price, which is 3.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 41, higher than the average last year, which was 23, an increase of 78%.

The Long & Foster Market Minute Gayton, Godwin, and Wellesley are defined as properties listed in zip code/s 23233.
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.