The Long & Foster Market Minute

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

Zip Code(s): 23233
Units Sold
64
Active Inventory
98
Median Sale Price
$384,975
Days On Market
24
Down -4%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -14%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 64 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 71 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 4% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 22%. The total number of active inventory this June was 98 compared to 125 in June 2018. This month's total of 98 is lower than the previous month's total supply of available inventory of 99, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Gayton, Godwin, and Wellesley Homes was $347,000. This June, the median sale price was $384,975, an increase of 11% or $37,975 compared to last year. The current median sold price is 5% higher than in May.

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


New Listings
66
Current Contracts
58
Sold Vs. List Price
100.3%
Months of Supply
1.5
Down -14%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In June, there was 1.5 months of supply available in Gayton, Godwin, and Wellesley, compared to 1.9 in June 2018. That is a decrease of 18% 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 66 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 77 in June 2018, a decrease of 14%. There were 58 current contracts pending sale this June compared to 60 a year ago. The number of current contracts is 3% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Gayton, Godwin, and Wellesley was 100.3% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 28, a decrease of 14%.

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.