The Long & Foster Market Minute

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

Zip Code(s): 23233
Units Sold
36
Active Inventory
67
Median Sale Price
$322,450
Days On Market
47
Down -20%
Vs. Year Ago
Down -36%
Vs. Year Ago
Down -4%
Vs. Year Ago
Up 12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 36 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 34 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 20% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 36%. The total number of active inventory this December was 67 compared to 104 in December 2018. This month's total of 67 is lower than the previous month's total supply of available inventory of 88, a decrease of 24%.

Median Sale Price
Last December, the median sale price for Gayton, Godwin, and Wellesley Homes was $336,850. This December, the median sale price was $322,450, a decrease of 4% or $14,400 compared to last year. The current median sold price is 7% 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
24
Current Contracts
31
Sold Vs. List Price
99.7%
Months of Supply
1.9
Up 20%
Vs. Year Ago
Up 94%
Vs. Year Ago
Down
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In December, there was 1.9 months of supply available in Gayton, Godwin, and Wellesley, compared to 2.3 in December 2018. That is a decrease of 19% 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 24 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 20 in December 2018, an increase of 20%. There were 31 current contracts pending sale this December compared to 16 a year ago. The number of current contracts is 94% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Gayton, Godwin, and Wellesley was 99.7% of the average list price, which is lower than at this time last year.

Days on Market
This month, the average number of days on market was 47, higher than the average last year, which was 42, an increase of 12%.

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.