 |
|||
 |
|||
| | |||
| Focus On: Hanover County Housing Market | August 2023 | ||
| | |||
| Units Sold 132 |
Active Inventory 265 |
Median Sale Price $423,750 |
Days On Market 22 |
|
|
|
|
|
| Down -14% Vs. Year Ago |
Down -15% Vs. Year Ago |
Down -2% Vs. Year Ago |
Up 22% Vs. Year Ago |
| | |||
Units Sold
There was an increase in total units sold in August, with 132 sold this month in Hanover County Real Estate. This month's total units sold was lower than at this time last year. |
|||
Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 15%. The total number of active inventory this August was 265 compared to 310 in August 2022. This month's total of 265 is lower than the previous month's total supply of available inventory of 267, a decrease of 1%. |
|||
Median Sale Price
Last August, the median sale price for Hanover County Homes was $432,500. This August, the median sale price was $423,750, a decrease of 2% or $8,750 compared to last year. The current median sold price is 3% 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 154 |
Current Contracts 116 |
Sold Vs. List Price 101.5% |
Months of Supply 2.0 |
|
|
|
|
|
| Down -3% Vs. Year Ago |
Down -7% Vs. Year Ago |
Up 0.8% Vs. Year Ago |
No Change Vs. Year Ago |
| | |||
Months of Supply
In August, there was 2.0 months of supply available in Hanover County. The amount of supply is similar compared to 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 154 homes newly listed for sale in Hanover County compared to 158 in August 2022, a decrease of 3%. There were 116 current contracts pending sale this August compared to 125 a year ago. The number of current contracts is 7% lower than last August. |
|||
Sale Price to List Price Ratio
In August, the average sale price in Hanover County was 101.5% of the average list price, which is 0.8% higher than at this time last year. Days on Market
This month, the average number of days on market was 22, higher than the average last year, which was 18, an increase of 22%. | |||
 |
|||
| *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. | |||
 Information 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. |
|||