ISLE OF WIGHT COUNTY HOUSING MARKET DATA

There was an increase in total units sold in May, with 49 sold this month in Isle of Wight County Real Estate versus 43 last month, an increase of 14%. This month's total units sold was lower than at this time last year, a decrease of 18% versus May 2024.

Versus last year, the total number of homes available this month is lower by 22 units or 15%. The total number of active inventory this May was 122 compared to 144 in May 2024. This month's total of 122 is lower than the previous month's total supply of available inventory of 124, a decrease of 2%.

Last May, the median sale price for Isle of Wight County Homes was $424,960. This May, the median sale price was $449,900, an increase of 6% or $24,940 compared to last year. The current median sold price is 8% higher than in April.

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

In May, there was 2.5 months of supply available in Isle of Wight County. The amount of supply is similar compared to 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.

This month there were 90 homes newly listed for sale in Isle of Wight County compared to 101 in May 2024, a decrease of 11%. There were 77 current contracts pending sale this May compared to 59 a year ago. The number of current contracts is 31% higher than last May.

In May, the average sale price in Isle of Wight County was 99.0% of the average list price, which is 1.7% lower than at this time last year.

This month, the average number of days on market was 40, higher than the average last year, which was 29, an increase of 38%.





FOCUS ON: ISLE OF WIGHT COUNTY HOUSING MARKET			MAY 2025

Units Sold 49	Active Inventory 122	Median Sale Price $449,900	Days On Market 40

Down -18% Vs. Year Ago	Down -15% Vs. Year Ago	Up 6% Vs. Year Ago	Up 38% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 49 sold this month in Isle of Wight County Real Estate versus 43 last month, an increase of 14%. This month's total units sold was lower than at this time last year, a decrease of 18% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 22 units or 15%. The total number of active inventory this May was 122 compared to 144 in May 2024. This month's total of 122 is lower than the previous month's total supply of available inventory of 124, a decrease of 2%.
		Median Sale Price Last May, the median sale price for Isle of Wight County Homes was $424,960. This May, the median sale price was $449,900, an increase of 6% or $24,940 compared to last year. The current median sold price is 8% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 90	Current Contracts 77	Sold Vs. List Price 99.0%	Months of Supply 2.5

Down -11% Vs. Year Ago	Up 31% Vs. Year Ago	Down -1.7% Vs. Year Ago	No Change Vs. Year Ago


		Months of Supply In May, there was 2.5 months of supply available in Isle of Wight County. The amount of supply is similar compared to 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 90 homes newly listed for sale in Isle of Wight County compared to 101 in May 2024, a decrease of 11%. There were 77 current contracts pending sale this May compared to 59 a year ago. The number of current contracts is 31% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Isle of Wight County was 99.0% of the average list price, which is 1.7% lower than at this time last year. Days on Market This month, the average number of days on market was 40, higher than the average last year, which was 29, an increase of 38%.



	*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.