The Long & Foster Market Minute

Focus On: Northumberland County Housing Market March 2021

Units Sold
31
Active Inventory
67
Median Sale Price
$299,000
Days On Market
145
Up
Vs. Year Ago
Down -69%
Vs. Year Ago
Up
Vs. Year Ago
Down -35%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 31 sold this month in Northumberland County Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 148 units or 69%. The total number of active inventory this March was 67 compared to 215 in March 2020. This month's supply remained stable as compared to last month.

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 Northumberland County Homes was $236,000. This March, the median sale price was $299,000, an increase of $63,000 compared to last year. The current median sold price is 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
46
Current Contracts
41
Sold Vs. List Price
97.8%
Months of Supply
2.2
No Change
Vs. Year Ago
Up 105%
Vs. Year Ago
Up 3.4%
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In March, there was 2.2 months of supply available in Northumberland County, compared to 8.0 in March 2020. That is a decrease of 73% 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 46 homes newly listed for sale in Northumberland County, which is similar to the amount in March 2020. There were 41 current contracts pending sale this March compared to 20 a year ago. The number of current contracts is 105% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Northumberland County was 97.8% of the average list price, which is 3.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 145, lower than the average last year, which was 223, a decrease of 35%.

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 NNAR 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 NNAR or Long & Foster Real Estate, Inc.