The Long & Foster Market Minute

Focus On: Mineral County Housing Market March 2021

Units Sold
14
Active Inventory
25
Median Sale Price
$144,900
Days On Market
56
Down -26%
Vs. Year Ago
Down -63%
Vs. Year Ago
Down -16%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
There was a decrease in total units sold in March, with 14 sold this month in Mineral County Real Estate versus 15 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 26% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 42 units or 63%. The total number of active inventory this March was 25 compared to 67 in March 2020. This month's total of 25 is lower than the previous month's total supply of available inventory of 36, a decrease of 31%.

Median Sale Price
Last March, the median sale price for Mineral County Homes was $172,000. This March, the median sale price was approximately the same at $144,900. The current median sold price is 16% lower than in March 2020.

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


New Listings
16
Current Contracts
24
Sold Vs. List Price
96.7%
Months of Supply
1.8
Up 7%
Vs. Year Ago
Up 100%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In March, there was 1.8 months of supply available in Mineral County, compared to 3.5 in March 2020. That is a decrease of 49% 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 16 homes newly listed for sale in Mineral County compared to 15 in March 2020, an increase of 7%. There were 24 current contracts pending sale this March compared to 12 a year ago. The number of current contracts is 100% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Mineral County was 96.7% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 56, lower than the average last year, which was 119. 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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.