The Long & Foster Market Minute

Focus On: Westhampton Housing Market April 2019

Zip Code(s): 23226
Units Sold
21
Active Inventory
57
Median Sale Price
$410,000
Days On Market
10
Down -13%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 21 sold this month in Westhampton Real Estate versus 23 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 13% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 11 units or 24%. The total number of active inventory this April was 57 compared to 46 in April 2018. This month's total of 57 is higher than the previous month's total supply of available inventory of 52, an increase of 10%.

Median Sale Price
Last April, the median sale price for Westhampton Homes was $347,500. This April, the median sale price was $410,000, an increase of 18% or $62,500 compared to last year. The current median sold price is 4% lower 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
67
Current Contracts
53
Sold Vs. List Price
100.0%
Months of Supply
2.7
Up 37%
Vs. Year Ago
Up 29%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Up 41%
Vs. Year Ago

Months of Supply
In April, there was 2.7 months of supply available in Westhampton, compared to 1.9 in April 2018. That is an increase of 42% 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 67 homes newly listed for sale in Westhampton compared to 49 in April 2018, an increase of 37%. There were 53 current contracts pending sale this April compared to 41 a year ago. The number of current contracts is 29% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Westhampton was 100.0% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 40. This decrease was impacted by the limited number of sales.

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.