The Long & Foster Market Minute

FOCUS ON: GOOCHLAND COUNTY HOUSING MARKET MAY 2024

Units Sold
46
Active Inventory
111
Median Sale Price
$654,375
Days On Market
35
Up 12%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 46 sold this month in Goochland County Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 6%. The total number of active inventory this May was 111 compared to 105 in May 2023. This month's total of 111 is higher than the previous month's total supply of available inventory of 102, an increase of 9%.

Median Sale Price
Last May, the median sale price for Goochland County Homes was $587,785. This May, the median sale price was $654,375, an increase of 11% or $66,590 compared to last year. The current median sold price is 14% higher 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
58
Current Contracts
32
Sold Vs. List Price
103.6%
Months of Supply
2.4
Up 14%
Vs. Year Ago
Down -27%
Vs. Year Ago
Down -1.8%
Vs. Year Ago
Down -6%
Vs. Year Ago

Months of Supply
In May, there was 2.4 months of supply available in Goochland County, compared to 2.6 in May 2023. That is a decrease of 6% 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 58 homes newly listed for sale in Goochland County compared to 51 in May 2023, an increase of 14%. There were 32 current contracts pending sale this May compared to 44 a year ago. The number of current contracts is 27% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Goochland County was 103.6% of the average list price, which is 2.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 45, a decrease of 22%.

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.