The Long & Foster Market Minute

Focus On: Westhampton Housing Market June 2019

Zip Code(s): 23226
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 2%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 53 sold this month in Westhampton Real Estate versus 55 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 2% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 20 units or 34%. The total number of active inventory this June was 38 compared to 58 in June 2018. This month's total of 38 is lower than the previous month's total supply of available inventory of 55, a decrease of 31%.

Median Sale Price
Last June, the median sale price for Westhampton Homes was $352,000. This June, the median sale price was $420,100, an increase of 19% or $68,100 compared to last year. The current median sold price is 16% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -7%
Vs. Year Ago
Up 44%
Vs. Year Ago
Down -1.9%
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Westhampton, compared to 1.1 in June 2018. That is a decrease of 36% 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 39 homes newly listed for sale in Westhampton compared to 42 in June 2018, a decrease of 7%. There were 49 current contracts pending sale this June compared to 34 a year ago. The number of current contracts is 44% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Westhampton was 100.6% of the average list price, which is 2.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 18, lower than the average last year, which was 33, a decrease of 45%.

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.