The Long & Foster Market Minute

Focus On: Henrico County Housing Market September 2019

Units Sold
437
Active Inventory
791
Median Sale Price
$261,500
Days On Market
31
Up 20%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 9%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 437 sold this month in Henrico County Real Estate versus 496 last month, a decrease of 12%. This month's total units sold was higher than at this time last year, an increase of 20% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 308 units or 28%. The total number of active inventory this September was 791 compared to 1,099 in September 2018. This month's total of 791 is lower than the previous month's total supply of available inventory of 856, a decrease of 8%.

Median Sale Price
Last September, the median sale price for Henrico County Homes was $240,000. This September, the median sale price was $261,500, an increase of 9% or $21,500 compared to last year. The current median sold price is 4% lower than in August.

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


New Listings
533
Current Contracts
469
Sold Vs. List Price
99.3%
Months of Supply
1.8
Up 3%
Vs. Year Ago
Up 36%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In September, there was 1.8 months of supply available in Henrico County, compared to 3.0 in September 2018. That is a decrease of 40% 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 533 homes newly listed for sale in Henrico County compared to 518 in September 2018, an increase of 3%. There were 469 current contracts pending sale this September compared to 345 a year ago. The number of current contracts is 36% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Henrico County was 99.3% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 31, which is similar compared to a year ago.

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.