Focus On: Powhatan County Housing Market
May 2017
Units Sold
Active Inventory
Median Sale Price
Days On Market
56
144
$284,000
43
260
70
400,000
240
60
50
220
200
40
180
300,000
250,000
160
30
200,000
140
20
120
10
100
150,000
100,000
M-15 S-15
M-15 S-15 J-16 M-16 S-16 J-17 M-17
100
90
80
70
60
50
40
30
20
350,000
Up
Vs. Year Ago
J-16 M-16 S-16
J-17 M-17
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Down -26%
Vs. Year Ago
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Up 11%
Vs. Year Ago
Down -41%
Vs. Year Ago
Units Sold*
70
Sold Detached
Sold Attached
Sold Condo/ Coop
60
Units Sold
There was an increase in total units sold in May, with 56 sold
this month in Powhatan County. This month's total units sold
was higher than at this time last year.
50
40
30
20
10
Active Inventory*
0
250
Active Detached
Active Attached
Active Condo/ Coop
200
Active Inventory
150
Versus last year, the total number of homes available this
month is lower by 51 units or 26%. The total number of active
inventory this May was 144 compared to 195 in May 2016.
This month's total of 144 is higher than the previous month's
total supply of available inventory of 133, an increase of 8%.
100
Median Sale Price
300,000
250,000
200,000
150,000
May-16
$254,900
May-17
$284,000
50
0
Median Sale Price
Last May, the median sale price for Powhatan County Homes
was $254,900. This May, the median sale price was $284,000,
an increase of 11% or $29,100 compared to last year. The
current median sold price is 2% lower than in April.
100,000
50,000
0
Median sale price is the middle sale price in a given month. The same number
of properties are above & below the median.
*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.
Information 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.
Focus On: Powhatan County Housing Market
May 2017
New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
85
54
99.6%
2.6
70
100
90
80
70
60
50
40
30
20
10
102.0%
101.0%
100.0%
99.0%
98.0%
97.0%
96.0%
95.0%
94.0%
93.0%
60
50
40
30
20
10
M-15 S-15 J-16 M-16 S-16
J-17 M-17
Up 33%
Vs. Year Ago
M-15 S-15
J-16 M-16 S-16
J-17 M-17
10.0
8.0
6.0
4.0
2.0
0.0
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Up 6%
Vs. Year Ago
Up 2%
Vs. Year Ago
M-15 S-15 J-16 M-16 S-16 J-17 M-17
Down -46%
Vs. Year Ago
Months of Supply
7.8
8.3
8.8
In May, there was 2.6 months of supply available in Powhatan
County, compared to 4.8 in May 2016. That is a decrease of
46% versus a year ago.
2.9
3.7
2.6
4.9
4.2
4.7
4.8
3.5
3.6
3.3
4.3
4.1
6.4
7.1
5.9
5.7
4.8
4.0
5.4
5.4
6.0
10
9
8
7
6
5
4
3
2
1
0
8.9
Months Of Supply
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
100
New Listings & Current Contracts
80
This month there were 85 homes newly listed for sale in
Powhatan County compared to 64 in May 2016, an increase of
33%. There were 54 current contracts pending sale this May
compared to 51 a year ago. The number of current contracts
is 6% higher than last May.
60
Number of New Listings
Total Pending
40
20
0
Sale Price/ List Price & DOM
102%
101%
100%
99%
98%
97%
96%
95%
94%
93%
Avg Sale / Avg List
Average DOM
100
90
80
70
60
50
40
30
20
10
0
Sale Price to List Price Ratio
In May, the average sale price in Powhatan County was 99.6%
of the average list price, which is 2.0% higher than at this
time last year.
Days On Market
This month, the average number of days on market was 43,
lower than the average last year, which was 73, a decrease of
41%.
*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.
Information 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.