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| Focus On: Henrico County Housing Market | October 2023 | ||
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| Units Sold 326 |
Active Inventory 480 |
Median Sale Price $375,500 |
Days On Market 14 |
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| No Change Vs. Year Ago |
Down -7% Vs. Year Ago |
Up 7% Vs. Year Ago |
Down -13% Vs. Year Ago |
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Units Sold
The number of units sold remained stable in October, with 326 sold this month in Henrico County Real Estate. This month's total units sold is similar compared to a year ago. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 7%. The total number of active inventory this October was 480 compared to 517 in October 2022. This month's total of 480 is higher than the previous month's total supply of available inventory of 470, an increase of 2%. |
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Median Sale Price
Last October, the median sale price for Henrico County Homes was $351,750. This October, the median sale price was $375,500, an increase of 7% or $23,750 compared to last year. The current median sold price is 5% higher than in September. 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 386 |
Current Contracts 318 |
Sold Vs. List Price 102.9% |
Months of Supply 1.5 |
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| Up 1% Vs. Year Ago |
Down -4% Vs. Year Ago |
Up 1.1% Vs. Year Ago |
Down -7% Vs. Year Ago |
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Months of Supply
In October, there was 1.5 months of supply available in Henrico County, compared to 1.6 in October 2022. That is a decrease of 7% 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 386 homes newly listed for sale in Henrico County compared to 382 in October 2022, an increase of 1%. There were 318 current contracts pending sale this October compared to 332 a year ago. The number of current contracts is 4% lower than last October. |
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Sale Price to List Price Ratio
In October, the average sale price in Henrico County was 102.9% of the average list price, which is 1.1% higher than at this time last year. Days on Market
This month, the average number of days on market was 14, lower than the average last year, which was 16, a decrease of 13%. | |||
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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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