NORTHERN NECK/MIDDLE PENINSULA HOUSING MARKET DATA

There was a decrease in total units sold in July, with 149 sold this month in Northern Neck/Middle Peninsula Real Estate versus 157 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 5% versus July 2024.

Versus last year, the total number of homes available this month is higher by 72 units or 16%. The total number of active inventory this July was 512 compared to 440 in July 2024. This month's total of 512 is lower than the previous month's total supply of available inventory of 536, a decrease of 4%.

Last July, the median sale price for Northern Neck/Middle Peninsula Homes was $337,375. This July, the median sale price was $365,000, an increase of 8% or $27,625 compared to last year. The current median sold price is 5% lower than in June.

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

In July, there was 3.4 months of supply available in Northern Neck/Middle Peninsula, compared to 3.1 in July 2024. That is an increase of 11% 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.

This month there were 170 homes newly listed for sale in Northern Neck/Middle Peninsula compared to 201 in July 2024, a decrease of 15%. There were 138 current contracts pending sale this July compared to 153 a year ago. The number of current contracts is 10% lower than last July.

In July, the average sale price in Northern Neck/Middle Peninsula was 97.8% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 71, higher than the average last year, which was 62, an increase of 15%.





FOCUS ON: NORTHERN NECK/MIDDLE PENINSULA HOUSING MARKET			JULY 2025

Units Sold 149	Active Inventory 512	Median Sale Price $365,000	Days On Market 71

Up 5% Vs. Year Ago	Up 16% Vs. Year Ago	Up 8% Vs. Year Ago	Up 15% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 149 sold this month in Northern Neck/Middle Peninsula Real Estate versus 157 last month, a decrease of 5%. This month's total units sold was higher than at this time last year, an increase of 5% versus July 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 72 units or 16%. The total number of active inventory this July was 512 compared to 440 in July 2024. This month's total of 512 is lower than the previous month's total supply of available inventory of 536, a decrease of 4%.
		Median Sale Price Last July, the median sale price for Northern Neck/Middle Peninsula Homes was $337,375. This July, the median sale price was $365,000, an increase of 8% or $27,625 compared to last year. The current median sold price is 5% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 170	Current Contracts 138	Sold Vs. List Price 97.8%	Months of Supply 3.4

Down -15% Vs. Year Ago	Down -10% Vs. Year Ago	No Change Vs. Year Ago	Up 11% Vs. Year Ago


		Months of Supply In July, there was 3.4 months of supply available in Northern Neck/Middle Peninsula, compared to 3.1 in July 2024. That is an increase of 11% 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 170 homes newly listed for sale in Northern Neck/Middle Peninsula compared to 201 in July 2024, a decrease of 15%. There were 138 current contracts pending sale this July compared to 153 a year ago. The number of current contracts is 10% lower than last July.
		Sale Price to List Price Ratio In July, the average sale price in Northern Neck/Middle Peninsula was 97.8% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 71, higher than the average last year, which was 62, an increase of 15%.


	*Defined as the counties of Essex, Gloucester, Lancaster, Mathews, Middlesex, Northumberland, and Westmoreland in VA
	*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 CBRAR/NNAR/BRIGHTMLS 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/NNAR/BRIGHTMLS or Long & Foster Real Estate, Inc.