The Long & Foster Market Minute

Focus On: Gayton, Godwin, and Wellesley Housing Market March 2021

Zip Code(s): 23233
Units Sold
35
Active Inventory
39
Median Sale Price
$430,000
Days On Market
29
Down
Vs. Year Ago
Down -57%
Vs. Year Ago
Up
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 35 sold this month in Gayton, Godwin, and Wellesley 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 51 units or 57%. The total number of active inventory this March was 39 compared to 90 in March 2020. This month's total of 39 is lower than the previous month's total supply of available inventory of 48, a decrease of 19%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Gayton, Godwin, and Wellesley Homes was $313,300. This March, the median sale price was $430,000, an increase of $116,700 compared to last year. The current median sold price is higher 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
53
Current Contracts
60
Sold Vs. List Price
104.3%
Months of Supply
1.1
Down -18%
Vs. Year Ago
Up 67%
Vs. Year Ago
Up
Vs. Year Ago
Down -52%
Vs. Year Ago

Months of Supply
In March, there was 1.1 months of supply available in Gayton, Godwin, and Wellesley, compared to 2.3 in March 2020. That is a decrease of 52% 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 53 homes newly listed for sale in Gayton, Godwin, and Wellesley compared to 65 in March 2020, a decrease of 18%. There were 60 current contracts pending sale this March compared to 36 a year ago. The number of current contracts is 67% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Gayton, Godwin, and Wellesley was 104.3% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 35, a decrease of 17%.

The Long & Foster Market Minute Gayton, Godwin, and Wellesley are defined as properties listed in zip code/s 23233.
*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.