The Long & Foster Market Minute

Focus On: Rockbridge County Housing Market September 2021

Units Sold
41
Active Inventory
94
Median Sale Price
$279,950
Days On Market
65
Down -2%
Vs. Year Ago
Down -24%
Vs. Year Ago
Down -5%
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 41 sold this month in Rockbridge County Real Estate versus 32 last month, an increase of 28%. This month's total units sold was lower than at this time last year, a decrease of 2% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 24%. The total number of active inventory this September was 94 compared to 123 in September 2020. This month's total of 94 is lower than the previous month's total supply of available inventory of 101, a decrease of 7%.

Median Sale Price
Last September, the median sale price for Rockbridge County Homes was $295,250. This September, the median sale price was $279,950, a decrease of 5% or $15,300 compared to last year. The current median sold price is 19% higher 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
45
Current Contracts
47
Sold Vs. List Price
98.5%
Months of Supply
2.3
Up 29%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In September, there was 2.3 months of supply available in Rockbridge County, compared to 2.9 in September 2020. That is a decrease of 22% 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 45 homes newly listed for sale in Rockbridge County compared to 35 in September 2020, an increase of 29%. There were 47 current contracts pending sale this September compared to 44 a year ago. The number of current contracts is 7% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Rockbridge County was 98.5% of the average list price, which is 1.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 65, lower than the average last year, which was 139, a decrease of 53%.

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 RHRA 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 RHRA or Long & Foster Real Estate, Inc.