The Long & Foster Market Minute

Focus On: Westhampton Housing Market February 2019

Zip Code(s): 23226
Units Sold
14
Active Inventory
41
Median Sale Price
$327,500
Days On Market
36
Up 17%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was an increase in total units sold in February, with 14 sold this month in Westhampton Real Estate versus 12 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 17% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 5 units or 14%. The total number of active inventory this February was 41 compared to 36 in February 2018. This month's total of 41 is higher than the previous month's total supply of available inventory of 34, an increase of 21%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last February, the median sale price for Westhampton Homes was $232,950. This February, the median sale price was $327,500, an increase of $94,550 compared to last year. The current median sold price is higher than in January.

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


New Listings
38
Current Contracts
25
Sold Vs. List Price
101.3%
Months of Supply
2.9
Up 19%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 2%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In February, there was 2.9 months of supply available in Westhampton. The amount of supply is similar compared to 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 38 homes newly listed for sale in Westhampton compared to 32 in February 2018, an increase of 19%. There were 25 current contracts pending sale this February compared to 38 a year ago. The number of current contracts is 34% lower than last February.

Sale Price to List Price Ratio
In February, the average sale price in Westhampton was 101.3% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, higher than the average last year, which was 18. This increase 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.