The Long & Foster Market Minute

Focus On: Westhampton Housing Market December 2018

Zip Code(s): 23226
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -12%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 26%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 30 sold this month in Westhampton Real Estate versus 26 last month, an increase of 15%. This month's total units sold was lower than at this time last year, a decrease of 12% versus December 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 40%. The total number of active inventory this December was 27 compared to 45 in December 2017. This month's total of 27 is lower than the previous month's total supply of available inventory of 38, a decrease of 29%.

Median Sale Price
Last December, the median sale price for Westhampton Homes was $368,750. This December, the median sale price was $422,500, an increase of 15% or $53,750 compared to last year. The current median sold price is 21% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -57%
Vs. Year Ago
Down -42%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In December, there was 0.9 months of supply available in Westhampton, compared to 1.3 in December 2017. That is a decrease of 32% 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 6 homes newly listed for sale in Westhampton compared to 14 in December 2017, a decrease of 57%. There were 11 current contracts pending sale this December compared to 19 a year ago. The number of current contracts is 42% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Westhampton was 97.9% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 29, higher than the average last year, which was 23, an increase of 26%.

The Long & Foster Market Minute Westhampton are defined as properties listed in zip code/s 23226.
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.