The Long & Foster Market Minute

Focus On: Westhampton Housing Market April 2020

Zip Code(s): 23226
Units Sold
39
Active Inventory
26
Median Sale Price
$425,000
Days On Market
12
Up
Vs. Year Ago
Down -59%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in April, with 39 sold this month in Westhampton Real Estate. This month's total units sold was higher than at this time last year, an increase from April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 59%. The total number of active inventory this April was 26 compared to 64 in April 2019. This month's total of 26 is lower than the previous month's total supply of available inventory of 40, a decrease of 35%.

Median Sale Price
Last April, the median sale price for Westhampton Homes was $410,000. This April, the median sale price was $425,000, an increase of 4% or $15,000 compared to last year. The current median sold price is 6% higher than in March.

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


New Listings
24
Current Contracts
27
Sold Vs. List Price
101.2%
Months of Supply
0.7
Down -64%
Vs. Year Ago
Down -49%
Vs. Year Ago
No Change
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In April, there was 0.7 months of supply available in Westhampton, compared to 2.8 in April 2019. That is a decrease of 76% 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 24 homes newly listed for sale in Westhampton compared to 67 in April 2019, a decrease of 64%. There were 27 current contracts pending sale this April compared to 53 a year ago. The number of current contracts is 49% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Westhampton was 101.2% 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 12, higher than the average last year, which was 10, an increase of 20%.

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.