Tue Oct 19 2021
This week the median list price for Suffolk, VA is $400,000 with the market action index hovering around 47. This is about the same as last month's market action index of 47. Inventory has decreased to 290.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$400,000|
|Median Price of New Listings||$372,350|
|Per Square Foot||$174|
|Average Days on Market||90|
|Median Days on Market||42|
|Strong Seller's Market|
Though this week saw relatively little price change from last week, the market seems to be show some signs of strength. The Market Action Index is a good leading indicator for the durability of this trend.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$572,450||3,286||1 - 2.5 acres||5||3||5||6||8||49|
|$439,900||2,408||1 - 2.5 acres||4||2||0||8||4||42|
|$339,900||2,010||0.25 - 0.5 acre||4||2||23||17||16||14|
|$223,000||1,450||0.25 - 0.5 acre||3||2||53||7||11||28|