The Long & Foster Market Minute

Focus On: Gayton, Godwin, and Wellesley Housing Market December 2018

Zip Code(s): 23233
Units Sold
44
Active Inventory
98
Median Sale Price
$336,402
Days On Market
43
Down -20%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -5%
Vs. Year Ago
Up 48%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 44 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 46 last month, a decrease of 4%. This month's total units sold was lower than at this time last year, a decrease of 20% versus December 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 7%. The total number of active inventory this December was 98 compared to 92 in December 2017. This month's total of 98 is lower than the previous month's total supply of available inventory of 108, a decrease of 9%.

Median Sale Price
Last December, the median sale price for Gayton, Godwin, and Wellesley Homes was $354,950. This December, the median sale price was $336,402, a decrease of 5% or $18,548 compared to last year. The current median sold price is 6% lower 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
19
Current Contracts
16
Sold Vs. List Price
106.3%
Months of Supply
2.2
Down -37%
Vs. Year Ago
Down -27%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Up 34%
Vs. Year Ago

Months of Supply
In December, there was 2.2 months of supply available in Gayton, Godwin, and Wellesley, compared to 1.7 in December 2017. That is an increase of 33% 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 19 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 30 in December 2017, a decrease of 37%. There were 16 current contracts pending sale this December compared to 22 a year ago. The number of current contracts is 27% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Gayton, Godwin, and Wellesley was 106.3% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 43, higher than the average last year, which was 29, an increase of 48%.

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.