The Long & Foster Market Minute

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

Zip Code(s): 23233
Units Sold
22
Active Inventory
108
Median Sale Price
$348,382
Days On Market
34
Up 10%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 22 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 26 last month, a decrease of 15%. This month's total units sold was higher than at this time last year, an increase of 10% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 11%. The total number of active inventory this February was 108 compared to 97 in February 2018. This month's total of 108 is lower than the previous month's total supply of available inventory of 118, a decrease of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Gayton, Godwin, and Wellesley Homes was $269,975. This February, the median sale price was $348,382, an increase of $78,407 compared to last year. The current median sold price is higher than in January.

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


New Listings
51
Current Contracts
50
Sold Vs. List Price
102.0%
Months of Supply
4.9
Down -36%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In February, there was 4.9 months of supply available in Gayton, Godwin, and Wellesley. The amount of supply is similar compared to 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 51 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 80 in February 2018, a decrease of 36%. There were 50 current contracts pending sale this February compared to 56 a year ago. The number of current contracts is 11% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Gayton, Godwin, and Wellesley was 102.0% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 41, a decrease of 17%.

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.