The Long & Foster Market Minute

Focus On: Henrico County Housing Market December 2021

Units Sold
478
Active Inventory
253
Median Sale Price
$301,705
Days On Market
17
Up 1%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -6%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 478 sold this month in Henrico County Real Estate versus 455 last month, an increase of 5%. This month's total units sold was higher than at this time last year, an increase of 1% versus December 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 160 units or 39%. The total number of active inventory this December was 253 compared to 413 in December 2020. This month's total of 253 is lower than the previous month's total supply of available inventory of 356, a decrease of 29%.

Median Sale Price
Last December, the median sale price for Henrico County Homes was $285,000. This December, the median sale price was $301,705, an increase of 6% or $16,705 compared to last year. The current median sold price is 4% lower than in November.

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


New Listings
253
Current Contracts
301
Sold Vs. List Price
102.2%
Months of Supply
0.5
Down -21%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In December, there was 0.5 months of supply available in Henrico County, compared to 0.9 in December 2020. That is a decrease of 39% 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 253 homes newly listed for sale in Henrico County compared to 321 in December 2020, a decrease of 21%. There were 301 current contracts pending sale this December compared to 324 a year ago. The number of current contracts is 7% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Henrico County was 102.2% 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 17, lower than the average last year, which was 18, a decrease of 6%.

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.