POWHATAN COUNTY HOUSING MARKET DATA

There was an increase in total units sold in May, with 38 sold this month in Powhatan County Real Estate versus 34 last month, an increase of 12%. This month's total units sold was higher than at this time last year, an increase of 12% versus May 2024.

Versus last year, the total number of homes available this month is higher by 33 units or 54%. The total number of active inventory this May was 94 compared to 61 in May 2024. This month's total of 94 is higher than the previous month's total supply of available inventory of 79, an increase of 19%.

Last May, the median sale price for Powhatan County Homes was $518,500. This May, the median sale price was $607,475, an increase of 17% or $88,975 compared to last year. The current median sold price is 23% higher than in April.

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

In May, there was 2.5 months of supply available in Powhatan County, compared to 1.8 in May 2024. That is an increase of 38% 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.

This month there were 65 homes newly listed for sale in Powhatan County compared to 58 in May 2024, an increase of 12%. There were 41 current contracts pending sale this May compared to 49 a year ago. The number of current contracts is 16% lower than last May.

In May, the average sale price in Powhatan County was 100.0% of the average list price, which is 0.8% lower than at this time last year.

This month, the average number of days on market was 24, higher than the average last year, which was 15. This increase was impacted by the limited number of sales.





FOCUS ON: POWHATAN COUNTY HOUSING MARKET			MAY 2025

Units Sold 38	Active Inventory 94	Median Sale Price $607,475	Days On Market 24

Up 12% Vs. Year Ago	Up 54% Vs. Year Ago	Up 17% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 38 sold this month in Powhatan County Real Estate versus 34 last month, an increase of 12%. This month's total units sold was higher than at this time last year, an increase of 12% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 33 units or 54%. The total number of active inventory this May was 94 compared to 61 in May 2024. This month's total of 94 is higher than the previous month's total supply of available inventory of 79, an increase of 19%.
		Median Sale Price Last May, the median sale price for Powhatan County Homes was $518,500. This May, the median sale price was $607,475, an increase of 17% or $88,975 compared to last year. The current median sold price is 23% higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 65	Current Contracts 41	Sold Vs. List Price 100.0%	Months of Supply 2.5

Up 12% Vs. Year Ago	Down -16% Vs. Year Ago	Down -0.8% Vs. Year Ago	Up 38% Vs. Year Ago


		Months of Supply In May, there was 2.5 months of supply available in Powhatan County, compared to 1.8 in May 2024. That is an increase of 38% 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 65 homes newly listed for sale in Powhatan County compared to 58 in May 2024, an increase of 12%. There were 41 current contracts pending sale this May compared to 49 a year ago. The number of current contracts is 16% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Powhatan County was 100.0% of the average list price, which is 0.8% lower than at this time last year. Days on Market This month, the average number of days on market was 24, higher than the average last year, which was 15. This increase was impacted by the limited number of sales.



	*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.
	Information 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.