The Long & Foster Market Minute

Focus On: Westhampton Housing Market June 2020

Zip Code(s): 23226
Units Sold
29
Active Inventory
32
Median Sale Price
$390,000
Days On Market
15
Down
Vs. Year Ago
Down -38%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in June, with 29 sold this month in Westhampton Real Estate. This month's total units sold was lower than at this time last year, a decrease from June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 38%. The total number of active inventory this June was 32 compared to 52 in June 2019. This month's supply remained stable as compared to last month.

Median Sale Price
Last June, the median sale price for Westhampton Homes was $420,100. This June, the median sale price was $390,000, a decrease of 7% or $30,100 compared to last year. The current median sold price is 6% higher than in May.

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
38
Sold Vs. List Price
101.4%
Months of Supply
1.1
Up 13%
Vs. Year Ago
Down -21%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Up 12%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Westhampton, compared to 1.0 in June 2019. 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 45 homes newly listed for sale in Westhampton compared to 40 in June 2019, an increase of 13%. There were 38 current contracts pending sale this June compared to 48 a year ago. The number of current contracts is 21% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Westhampton was 101.4% of the average list price, which is 0.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 18, a decrease of 17%.

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.