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| Focus On: Henrico County Housing Market | May 2020 | ||
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| Units Sold 419 |
Active Inventory 542 |
Median Sale Price $269,950 |
Days On Market 22 |
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| Down -19% Vs. Year Ago |
Down -44% Vs. Year Ago |
Up 2% Vs. Year Ago |
Down -15% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in May, with 419 sold this month in Henrico County Real Estate versus 397 last month, an increase of 6%. This month's total units sold was lower than at this time last year, a decrease of 19% versus May 2019. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 428 units or 44%. The total number of active inventory this May was 542 compared to 970 in May 2019. This month's total of 542 is lower than the previous month's total supply of available inventory of 679, a decrease of 20%. |
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Median Sale Price
Last May, the median sale price for Henrico County Homes was $265,000. This May, the median sale price was approximately the same at $269,950. The current median sold price is 2% higher than in May 2019. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 462 |
Current Contracts 518 |
Sold Vs. List Price 100.1% |
Months of Supply 1.3 |
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| Down -30% Vs. Year Ago |
Down -5% Vs. Year Ago |
No Change Vs. Year Ago |
Down -31% Vs. Year Ago |
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Months of Supply
In May, there was 1.3 months of supply available in Henrico County, compared to 1.9 in May 2019. That is a decrease of 31% 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. |
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New Listings & Current Contracts
This month there were 462 homes newly listed for sale in Henrico County compared to 659 in May 2019, a decrease of 30%. There were 518 current contracts pending sale this May compared to 544 a year ago. The number of current contracts is 5% lower than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Henrico County was 100.1% of the average list price, which is similar compared to a year ago. Days on Market
This month, the average number of days on market was 22, lower than the average last year, which was 26, a decrease of 15%. | |||
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| *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. |
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