The Long & Foster Market Minute

Focus On: Mathews County Housing Market April 2019

Units Sold
10
Active Inventory
125
Median Sale Price
$274,950
Days On Market
194
Down -29%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 21%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 10 sold this month in Mathews County Real Estate versus 11 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 29% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 4%. The total number of active inventory this April was 125 compared to 120 in April 2018. This month's total of 125 is higher than the previous month's total supply of available inventory of 119, an increase of 5%.

Median Sale Price
Last April, the median sale price for Mathews County Homes was $220,000. This April, the median sale price was $274,950, an increase of 25% or $54,950 compared to last year. The current median sold price is 6% higher than in March.

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


New Listings
34
Current Contracts
15
Sold Vs. List Price
95.2%
Months of Supply
12.5
Up 21%
Vs. Year Ago
Up 88%
Vs. Year Ago
Down -0.7%
Vs. Year Ago
Up 46%
Vs. Year Ago

Months of Supply
In April, there was 12.5 months of supply available in Mathews County, compared to 8.6 in April 2018. That is an increase of 46% 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 34 homes newly listed for sale in Mathews County compared to 28 in April 2018, an increase of 21%. There were 15 current contracts pending sale this April compared to 8 a year ago. The number of current contracts is 88% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Mathews County was 95.2% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 194, higher than the average last year, which was 160, an increase of 21%.

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.