The Long & Foster Market Minute

Focus On: Mathews County Housing Market September 2018

Units Sold
8
Active Inventory
122
Median Sale Price
$129,000
Days On Market
107
Down -33%
Vs. Year Ago
Down -16%
Vs. Year Ago
Down
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 8 sold this month in Mathews County Real Estate versus 12 last month, a decrease of 33%. This month's total units sold was lower than at this time last year, a decrease of 33% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 16%. The total number of active inventory this September was 122 compared to 145 in September 2017. This month's total of 122 is lower than the previous month's total supply of available inventory of 132, a decrease of 8%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last September, the median sale price for Mathews County Homes was $244,500. This September, the median sale price was $129,000, a decrease of $115,500 compared to last year. The current median sold price is 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
10
Current Contracts
11
Sold Vs. List Price
92.6%
Months of Supply
15.3
Down -52%
Vs. Year Ago
Up 22%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Up 26%
Vs. Year Ago

Months of Supply
In September, there was 15.3 months of supply available in Mathews County, compared to 12.1 in September 2017. That is an increase of 26% 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 10 homes newly listed for sale in Mathews County compared to 21 in September 2017, a decrease of 52%. There were 11 current contracts pending sale this September compared to 9 a year ago. The number of current contracts is 22% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Mathews County was 92.6% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 107, lower than the average last year, which was 138, a decrease of 22%.

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 CBRAR 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 CBRAR or Long & Foster Real Estate, Inc.