The Long & Foster Market Minute

Focus On: Gayton, Godwin, and Wellesley Housing Market April 2020

Zip Code(s): 23233
Units Sold
35
Active Inventory
77
Median Sale Price
$369,000
Days On Market
49
Down -34%
Vs. Year Ago
Down -23%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 35 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 39 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 34% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 23%. The total number of active inventory this April was 77 compared to 100 in April 2019. This month's supply remained stable as compared to last month.

Median Sale Price
Last April, the median sale price for Gayton, Godwin, and Wellesley Homes was $377,000. This April, the median sale price was $369,000, a decrease of 2% or $8,000 compared to last year. The current median sold price is 18% 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
49
Current Contracts
41
Sold Vs. List Price
101.9%
Months of Supply
2.2
Down -20%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 2.2%
Vs. Year Ago
Up 16%
Vs. Year Ago

Months of Supply
In April, there was 2.2 months of supply available in Gayton, Godwin, and Wellesley, compared to 1.9 in April 2019. That is an increase of 17% 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 49 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 61 in April 2019, a decrease of 20%. There were 41 current contracts pending sale this April compared to 72 a year ago. The number of current contracts is 43% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Gayton, Godwin, and Wellesley was 101.9% of the average list price, which is 2.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 49, higher than the average last year, which was 41, an increase of 20%.

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.