The Long & Foster Market Minute
Focus On: Powhatan County Housing Market April 2012
Units Sold
19		 Active Inventory
251		 Median Sale Price
$250,000		 Days On Market
98
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 19%
Vs. Year Ago		 Down -7%
Vs. Year Ago		 Up
Vs. Year Ago		 Down -18%
Vs. Year Ago
Units Sold
There was a decrease in total units sold in April, with 19 sold this month in Powhatan County Real Estate versus 24 last month, a decrease of 21%. This month's total units sold was higher than at this time last year, an increase of 19% versus April 2011.
Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 7%. The total number of active inventory this April was 251 compared to 270 in April 2011. This month's total of 251 is higher than the previous month's total supply of available inventory of 246, an increase of 2%.
Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last April, the median sale price for Powhatan County Homes was $238,750. This April, the median sale price was $250,000, an increase of $11,250 compared to last year. The current median sold price is higher than in March.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.
New Listings
43		 Current Contracts
25		 Sold Vs. List Price
96.5%		 Months of Supply
13.2
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -22%
Vs. Year Ago		 No Change
Vs. Year Ago		 No Change
Vs. Year Ago		 Down -22%
Vs. Year Ago
Months of Supply
In April, there was 13.2 months of supply available in Powhatan County, compared to 16.9 in April 2011. That is a decrease of 22% 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 43 homes newly listed for sale in Powhatan County compared to 55 in April 2011, a decrease of 22%. There were 25 current contracts pending sale this April, consistent with the volume a year ago. The number of current contracts is 9% higher than last month.
Sale Price to List Price Ratio
In April, the average sale price in Powhatan County was 96.5% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 98, lower than the average last year, which was 119, a decrease of 18%.
*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.