The Long & Foster Market Minute

Focus On: Goochland County Housing Market May 2018

Units Sold
27
Active Inventory
134
Median Sale Price
$367,000
Days On Market
59
Down -29%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down
Vs. Year Ago
Up 26%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 27 sold this month in Goochland County Real Estate versus 26 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 29% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 15%. The total number of active inventory this May was 134 compared to 117 in May 2017. This month's total of 134 is higher than the previous month's total supply of available inventory of 128, an increase of 5%.

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 $402,500. This May, the median sale price was $367,000, a decrease of $35,500 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
55
Current Contracts
38
Sold Vs. List Price
96.5%
Months of Supply
5.0
Down -2%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -3.7%
Vs. Year Ago
Up 61%
Vs. Year Ago

Months of Supply
In May, there was 5.0 months of supply available in Goochland County, compared to 3.1 in May 2017. That is an increase of 61% 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 55 homes newly listed for sale in Goochland County compared to 56 in May 2017, a decrease of 2%. There were 38 current contracts pending sale this May compared to 44 a year ago. The number of current contracts is 14% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Goochland County was 96.5% of the average list price, which is 3.7% lower than at this time last year.

Days on Market
This month, the average number of days on market was 59, higher than the average last year, which was 47, an increase of 26%.

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.