The Long & Foster Market Minute

Focus On: Mathews County Housing Market December 2018

Units Sold
10
Active Inventory
120
Median Sale Price
$203,100
Days On Market
175
Down
Vs. Year Ago
Down -4%
Vs. Year Ago
Down
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 10 sold this month in Mathews County Real Estate. This month's total units sold was lower than at this time last year, a decrease from December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 4%. The total number of active inventory this December was 120 compared to 125 in December 2017. This month's total of 120 is lower than the previous month's total supply of available inventory of 126, a decrease of 5%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last December, the median sale price for Mathews County Homes was $220,000. This December, the median sale price was $203,100, a decrease of $16,900 compared to last year. The current median sold price is higher than in November.

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


New Listings
8
Current Contracts
4
Sold Vs. List Price
91.7%
Months of Supply
12.0
Down -20%
Vs. Year Ago
Down -33%
Vs. Year Ago
Down
Vs. Year Ago
Up 25%
Vs. Year Ago

Months of Supply
In December, there was 12.0 months of supply available in Mathews County, compared to 9.6 in December 2017. That is an increase of 25% 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 8 homes newly listed for sale in Mathews County compared to 10 in December 2017, a decrease of 20%. There were 4 current contracts pending sale this December compared to 6 a year ago. The number of current contracts is 33% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Mathews County was 91.7% of the average list price, which is lower than at this time last year.

Days on Market
This month, the average number of days on market was 175, lower than the average last year, which was 197, a decrease of 11%.

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.