The Long & Foster Market Minute

Focus On: Amherst County Housing Market March 2021

Units Sold
32
Active Inventory
40
Median Sale Price
$167,450
Days On Market
30
Down
Vs. Year Ago
Down -64%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 32 sold this month in Amherst County Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 71 units or 64%. The total number of active inventory this March was 40 compared to 111 in March 2020. This month's total of 40 is higher than the previous month's total supply of available inventory of 35, an increase of 14%.

Median Sale Price
Last March, the median sale price for Amherst County Homes was $158,500. This March, the median sale price was $167,450, an increase of 6% or $8,950 compared to last year. The current median sold price is 18% lower than in February.

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


New Listings
47
Current Contracts
40
Sold Vs. List Price
99.1%
Months of Supply
1.3
Down -8%
Vs. Year Ago
Up 38%
Vs. Year Ago
Down -1.1%
Vs. Year Ago
Down -55%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Amherst County, compared to 2.8 in March 2020. That is a decrease of 55% 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 47 homes newly listed for sale in Amherst County compared to 51 in March 2020, a decrease of 8%. There were 40 current contracts pending sale this March compared to 29 a year ago. The number of current contracts is 38% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Amherst County was 99.1% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 62. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute
*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 LAR 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 LAR or Long & Foster Real Estate, Inc.