The Long & Foster Market Minute

Focus On: Westhampton Housing Market March 2021

Zip Code(s): 23226
Units Sold
28
Active Inventory
15
Median Sale Price
$392,756
Days On Market
44
Up 22%
Vs. Year Ago
Down -68%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 29%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 28 sold this month in Westhampton Real Estate versus 26 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 22% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 32 units or 68%. The total number of active inventory this March was 15 compared to 47 in March 2020. This month's total of 15 is higher than the previous month's total supply of available inventory of 12, an increase of 25%.

Median Sale Price
Last March, the median sale price for Westhampton Homes was $400,000. This March, the median sale price was $392,756, a decrease of 2% or $7,244 compared to last year. The current median sold price is 3% 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
34
Current Contracts
28
Sold Vs. List Price
103.9%
Months of Supply
0.5
Down -41%
Vs. Year Ago
Down -39%
Vs. Year Ago
Up 3.8%
Vs. Year Ago
Down -74%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Westhampton, compared to 2.0 in March 2020. That is a decrease of 74% 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 34 homes newly listed for sale in Westhampton compared to 58 in March 2020, a decrease of 41%. There were 28 current contracts pending sale this March compared to 46 a year ago. The number of current contracts is 39% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Westhampton was 103.9% of the average list price, which is 3.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 44, higher than the average last year, which was 34, an increase of 29%.

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.