The Long & Foster Market Minute

Focus On: Westhampton Housing Market August 2019

Zip Code(s): 23226
Units Sold
50
Active Inventory
38
Median Sale Price
$377,500
Days On Market
26
Up 14%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 50 sold this month in Westhampton Real Estate versus 51 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 14% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 43%. The total number of active inventory this August was 38 compared to 67 in August 2018. This month's total of 38 is lower than the previous month's total supply of available inventory of 41, a decrease of 7%.

Median Sale Price
Last August, the median sale price for Westhampton Homes was $352,066. This August, the median sale price was $377,500, an increase of 7% or $25,434 compared to last year. The current median sold price is 4% higher than in July.

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


New Listings
29
Current Contracts
24
Sold Vs. List Price
102.7%
Months of Supply
0.8
Down -37%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In August, there was 0.8 months of supply available in Westhampton, compared to 1.5 in August 2018. That is a decrease of 50% 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 29 homes newly listed for sale in Westhampton compared to 46 in August 2018, a decrease of 37%. There were 24 current contracts pending sale this August compared to 30 a year ago. The number of current contracts is 20% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Westhampton was 102.7% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 27, a decrease of 4%.

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.