The Long & Foster Market Minute

Focus On: Goochland County Housing Market August 2019

Units Sold
34
Active Inventory
144
Median Sale Price
$425,400
Days On Market
41
Down -35%
Vs. Year Ago
Down -18%
Vs. Year Ago
Down -3%
Vs. Year Ago
Down -25%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 34 sold this month in Goochland County Real Estate versus 30 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 35% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 18%. The total number of active inventory this August was 144 compared to 176 in August 2018. This month's total of 144 is lower than the previous month's total supply of available inventory of 152, a decrease of 5%.

Median Sale Price
Last August, the median sale price for Goochland County Homes was $437,975. This August, the median sale price was $425,400, a decrease of 3% or $12,575 compared to last year. The current median sold price is 15% higher than in July.

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


New Listings
40
Current Contracts
34
Sold Vs. List Price
100.4%
Months of Supply
4.2
Up 8%
Vs. Year Ago
Up 21%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In August, there was 4.2 months of supply available in Goochland County, compared to 3.4 in August 2018. That is an increase of 25% 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 40 homes newly listed for sale in Goochland County compared to 37 in August 2018, an increase of 8%. There were 34 current contracts pending sale this August compared to 28 a year ago. The number of current contracts is 21% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Goochland County was 100.4% of the average list price, which is 1.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 41, lower than the average last year, which was 55, a decrease of 25%.

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.