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| MARCH 2025 | |||
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| Units Sold 33 |
Active Inventory 108 |
Median Sale Price $515,000 |
Days On Market 43 |
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| Down -6% Vs. Year Ago |
Down -16% Vs. Year Ago |
Up Vs. Year Ago |
Down -17% Vs. Year Ago |
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Units Sold
There was a decrease in total units sold in March, with 33 sold this month in Isle of Wight County Real Estate versus 39 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 6% versus March 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 21 units or 16%. The total number of active inventory this March was 108 compared to 129 in March 2024. This month's total of 108 is lower than the previous month's total supply of available inventory of 114, a decrease of 5%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Isle of Wight County Homes was $378,195. This March, the median sale price was $515,000, an increase of $136,805 compared to last year. The current median sold price is higher than in February. 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 88 |
Current Contracts 74 |
Sold Vs. List Price 99.0% |
Months of Supply 3.3 |
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| Up 21% Vs. Year Ago |
Up 45% Vs. Year Ago |
Down -0.8% Vs. Year Ago |
Down -11% Vs. Year Ago |
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Months of Supply
In March, there was 3.3 months of supply available in Isle of Wight County, compared to 3.7 in March 2024. That is a decrease of 11% 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 88 homes newly listed for sale in Isle of Wight County compared to 73 in March 2024, an increase of 21%. There were 74 current contracts pending sale this March compared to 51 a year ago. The number of current contracts is 45% higher than last March. |
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Sale Price to List Price Ratio
In March, the average sale price in Isle of Wight County was 99.0% of the average list price, which is 0.8% lower than at this time last year. Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 52, a decrease of 17%. | |||
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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 REIN 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 REIN or Long & Foster Real Estate, Inc. |
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