The Long & Foster Market Minute

Focus On: Spotsylvania County Housing Market October 2021

Units Sold
242
Active Inventory
248
Median Sale Price
$365,000
Days On Market
16
Down -14%
Vs. Year Ago
Down -3%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 242 sold this month in Spotsylvania County Real Estate versus 274 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 14% versus October 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 8 units or 3%. The total number of active inventory this October was 248 compared to 256 in October 2020. This month's total of 248 is lower than the previous month's total supply of available inventory of 316, a decrease of 22%.

Median Sale Price
Last October, the median sale price for Spotsylvania County Homes was $336,172. This October, the median sale price was approximately the same at $365,000. The current median sold price is 9% higher than in October 2020.

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


New Listings
271
Current Contracts
279
Sold Vs. List Price
100.3%
Months of Supply
1.0
Down -13%
Vs. Year Ago
Up 1%
Vs. Year Ago
No Change
Vs. Year Ago
Up 12%
Vs. Year Ago

Months of Supply
In October, there was 1.0 months of supply available in Spotsylvania County, compared to 0.9 in October 2020. That is an increase of 12% 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 271 homes newly listed for sale in Spotsylvania County compared to 313 in October 2020, a decrease of 13%. There were 279 current contracts pending sale this October compared to 276 a year ago. The number of current contracts is 1% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Spotsylvania County was 100.3% 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 16, lower than the average last year, which was 20, a decrease of 20%.

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 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 BRIGHTMLS or Long & Foster Real Estate, Inc.