The Long & Foster Market Minute

Focus On: Mathews County Housing Market May 2018

Units Sold
6
Active Inventory
130
Median Sale Price
$181,000
Days On Market
44
Down
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -20%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 6 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 May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 12%. The total number of active inventory this May was 130 compared to 147 in May 2017. This month's total of 130 is higher than the previous month's total supply of available inventory of 114, an increase of 14%.

Median Sale Price
Last May, the median sale price for Mathews County Homes was $225,000. This May, the median sale price was $181,000, a decrease of 20% or $44,000 compared to last year. The current median sold price is 18% lower 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
37
Current Contracts
15
Sold Vs. List Price
99.8%
Months of Supply
21.7
Up 61%
Vs. Year Ago
Up 88%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago

Months of Supply
In May, there was 21.7 months of supply available in Mathews County, compared to 7.7 in May 2017. That is an increase 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 37 homes newly listed for sale in Mathews County compared to 23 in May 2017, an increase of 61%. There were 15 current contracts pending sale this May compared to 8 a year ago. The number of current contracts is 88% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Mathews County was 99.8% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 44, lower than the average last year, which was 171. This decrease was impacted by the limited number of sales.

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.