The Long & Foster Market Minute

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

Zip Code(s): 23233
Units Sold
55
Active Inventory
68
Median Sale Price
$339,000
Days On Market
20
Down -13%
Vs. Year Ago
Down -40%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 55 sold this month in Gayton, Godwin, and Wellesley Real Estate versus 43 last month, an increase of 28%. This month's total units sold was lower than at this time last year, a decrease of 13% versus June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 46 units or 40%. The total number of active inventory this June was 68 compared to 114 in June 2019. This month's total of 68 is higher than the previous month's total supply of available inventory of 66, an increase of 3%.

Median Sale Price
Last June, the median sale price for Gayton, Godwin, and Wellesley Homes was $384,950. This June, the median sale price was $339,000, a decrease of 12% or $45,950 compared to last year. The current median sold price is 1% lower 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
53
Current Contracts
42
Sold Vs. List Price
100.8%
Months of Supply
1.2
Down -20%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -31%
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Gayton, Godwin, and Wellesley, compared to 1.8 in June 2019. That is a decrease of 32% 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 53 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 66 in June 2019, a decrease of 20%. There were 42 current contracts pending sale this June compared to 52 a year ago. The number of current contracts is 19% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Gayton, Godwin, and Wellesley was 100.8% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 20, lower than the average last year, which was 25, a decrease 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.