The Long & Foster Market Minute

Focus On: Goochland County Housing Market May 2020

Units Sold
36
Active Inventory
154
Median Sale Price
$344,500
Days On Market
40
Up 9%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago
Up 43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 36 sold this month in Goochland County Real Estate versus 32 last month, an increase of 13%. This month's total units sold was higher than at this time last year, an increase of 9% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 11 units or 7%. The total number of active inventory this May was 154 compared to 165 in May 2019. This month's total of 154 is lower than the previous month's total supply of available inventory of 165, a decrease of 7%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Goochland County Homes was $315,000. This May, the median sale price was $344,500, an increase of $29,500 compared to last year. The current median sold price is lower than in April.

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


New Listings
47
Current Contracts
45
Sold Vs. List Price
98.4%
Months of Supply
4.3
Down -2%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Down -14%
Vs. Year Ago

Months of Supply
In May, there was 4.3 months of supply available in Goochland County, compared to 5.0 in May 2019. That is a decrease of 14% 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 47 homes newly listed for sale in Goochland County compared to 48 in May 2019, a decrease of 2%. There were 45 current contracts pending sale this May compared to 36 a year ago. The number of current contracts is 25% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Goochland County was 98.4% of the average list price, which is 0.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 40, higher than the average last year, which was 28, an increase of 43%.

The Long & Foster Market Minute
*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.