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MARKET INDICATORS REPORT DECEMBER 2020

MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

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Page 1: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

MARKET INDICATORS REPORT

DECEMBER

2020

Page 2: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Virginia Peninsula Market Indicators Report

Dec-20 Indicator

55.0% 789 Sales

-11.9% 347 Pending Sales

10.1% 478 New Listings

8.3% $324,900 Median List Price

9.6% $325,000 Median Sales Price

9.0% $174 Median Price Per Square Foot

65.8% $209.3 Sold Dollar Volume (in millions)

0.0% 100.0% Median Sold/Ask Price Ratio

-33.6% 34 Average Days on Market

30-YR Fixed 2.79 % -27.0% 1,192 Active Listings

15-YR Fixed 2.23 % -43.9% 1.5 Months of Supply

5/1-YR ADJ. 3.12 %JAN 2006 JAN 2021

January 14, 2021

YoY Chg

Virginia Peninsula Market Dashboard

Key Market Trends: December 2020

INTE

REST

RATE

TRAC

KER

Very busy end to 2020 in the Virginia Peninsula region. Largest sales gain inmore than 5 years, big jump in townhome and condo sales. Sales activitycontinues to surge in the Virginia Peninsula housing market. There were 789 salesin December, 280 more sales than last year, which is a 55.0% spike. All localmarkets had more sales this month. Notably, there were 130 townhome andcondo sales in the region which is 60 more than last year. Most of the additionaltownhome and condo sales were in Hampton and Newport News.

Pending sales continue to trend down in the region. There were 347 pendingsales across the Virginia Peninsula footprint in December, 47 fewer than last year(-11.9%). Hampton had the largest decline (-30.1%), while Newport News was theonly local market with an uptick in pending sales this month (+8.2%).

Home prices are climbing throughout the Virginia Peninsula market. At$325,000, the December median sales price in the region rose 9.6% from lastyear, a gain of more than $28,000. The December median sales price in Poquosonwas notably strong, rising $56,000 from last year (+17.0%). Home prices wererelatively flat in York County this month (+0.7%).

Inventory is getting tighter in the region; however, first uptick in newlistings since January. There were 1,192 active listings in the Virginia Peninsulaarea at the end of December, 440 fewer listings than last year (-27.0%). Therewere 478 new listings this month, 44 more than a year ago (+10.1%). Most of theadditional listings were in Newport News and Isle of Wight County.

Sources: Virginia REALTORS®, data accessed January 15, 2021, Federal Reserve Bank of St. Louis 2

Page 3: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Report Index

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

Area Overview - Total Market YTD -------------------------------------------------------------------

Area Overview - Single-Family Detached Market -----------------------------------------------

Area Overview - Single-Family Detached Market YTD ----------------------------------------

Area Overview - Townhome & Condo Market ---------------------------------------------------

Area Overview - Townhome & Condo Market YTD --------------------------------------------

Median Sold to Ask Price Ratio -----------------------------------------------------------------------

Average Days on Market --------------------------------------------------------------------------------

Active Listings -----------------------------------------------------------------------------------------------

Months of Supply -----------------------------------------------------------------------------------------

Area Overview - Total Market -------------------------------------------------------------------------

Sold Dollar Volume ---------------------------------------------------------------------------------------

Market Activity - Virginia Peninsula Footprint ---------------------------------------------------

Total Market Overview ----------------------------------------------------------------------------------

Single-Family Detached Market Overview --------------------------------------------------------

Townhome & Condo Market Overview ------------------------------------------------------------

Sales -----------------------------------------------------------------------------------------------------------

Pending Sales -----------------------------------------------------------------------------------------------

New Listings -------------------------------------------------------------------------------------------------

Median List Price ------------------------------------------------------------------------------------------

Median Sales Price ----------------------------------------------------------------------------------------

Consumers Should Consult with a REALTOR®.Buying or selling real estate, for a majority of consumers, is one of the most important decisions they will make. Choosing a real estate professional continues to be a vital part of this process.

Identify a Professional to Manage the Procedure.REALTORS® are well-informed about critical factors that affect your specific market area – such as changes in market conditions, consumer attitudes and interest rates.

Are You Ready to Buy or Sell Real Estate? Contact an experienced REALTOR®.

3

Page 4: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Market Activity - Virginia Peninsula Footprint

Jurisdiction % Chg

Hampton 52.5%

Isle of Wight County 79.2%

Newport News 72.1%

Poquoson 23.5%

York County 23.8%

Virginia Peninsula 55.0%509 789

Total Sales

179 308

17 21

105 130

Dec-19 Dec-20

160 244

48 86

+72.1%

+23.5%+23.8%

+79.2%

+52.5

Source: Virginia REALTORS®, data accessed January 15, 2021 4

Page 5: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Total Market Overview

Key Metrics Dec-19 Dec-20 YoY Chg YTD 2019 YTD 2020 YoY ChgDec-18 Dec-20

Sales 509 789 55.0% 6,750 7,481 10.8%

Pending Sales 394 347 -11.9% 6,648 4,551 -31.5%

New Listings 434 478 10.1% 9,115 7,592 -16.7%

Median List Price $299,900 $324,900 8.3% $215,000 $230,000 7.0%

Median Sales Price $296,660 $325,000 9.6% $213,000 $230,000 8.0%

Median Price Per Square Foot $159 $174 9.0% $133 $141 6.5%

Sold Dollar Volume (in millions) $126.2 $209.3 65.8% $1,569.8 $1,888.5 20.3%

Median Sold/Ask Price Ratio 100.0% 100.0% 0.0% 100.0% 100.0% 0.0%

Average Days on Market 51 34 -33.6% 58 43 -25.7%

Active Listings 1,632 1,192 -27.0% n/a n/a n/a

Months of Supply 2.7 1.5 -43.9% n/a n/a n/a

2-year Trends

Source: Virginia REALTORS®, data accessed January 15, 2021 5

Page 6: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Single-Family Detached Market Overview

Key Metrics Dec-19 Dec-20 YoY Chg YTD 2019 YTD 2020 YoY ChgDec-18 Dec-20

Sales 439 659 50.1% 5,880 6,464 9.9%

Pending Sales 339 303 -10.6% 5,820 3,936 -32.4%

New Listings 389 418 7.5% 8,012 6,578 -17.9%

Median List Price $309,265 $335,000 8.3% $225,000 $239,900 6.6%

Median Sales Price $305,000 $335,000 9.8% $220,000 $239,000 8.6%

Median Price Per Square Foot $153 $168 9.5% $134 $142 6.3%

Sold Dollar Volume (in millions) $112.9 $183.1 62.2% $1,421.1 $1,693.0 19.1%

Median Sold/Ask Price Ratio 100.0% 100.0% 0.0% 100.0% 100.0% 0.0%

Average Days on Market 53 35 -34.7% 57 43 -23.8%

Active Listings 1,436 1,032 -28.1% n/a n/a n/a

Months of Supply 2.9 1.5 -47.2% n/a n/a n/a

2-year Trends

Source: Virginia REALTORS®, data accessed January 15, 2021 6

Page 7: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Townhome & Condo Market Overview

Key Metrics Dec-19 Dec-20 YoY Chg YTD 2019 YTD 2020 YoY ChgDec-18 Dec-20

Sales 70 130 85.7% 870 1,017 16.9%

Pending Sales 55 44 -20.0% 828 615 -25.7%

New Listings 45 60 33.3% 1,103 1,014 -8.1%

Median List Price $269,500 $276,468 2.6% $174,900 $193,600 10.7%

Median Sales Price $266,250 $276,948 4.0% $172,500 $190,000 10.1%

Median Price Per Square Foot $217 $234 8.2% $119 $131 9.7%

Sold Dollar Volume (in millions) $13.3 $26.2 96.7% $148.6 $195.5 31.6%

Median Sold/Ask Price Ratio 100.0% 100.0% 0.0% 99.8% 100.0% 0.2%

Average Days on Market 37 29 -22.5% 63 39 -37.5%

Active Listings 196 160 -18.4% n/a n/a n/a

Months of Supply 2.5 1.5 -39.7% n/a n/a n/a

2-year Trends

Source: Virginia REALTORS®, data accessed January 15, 2021 7

Page 8: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Sales

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 333 0.9% 45 4.7%

Feb-20 374 12.7% 48 -25.0%

Mar-20 485 -1.2% 63 -21.3%

Apr-20 477 -7.2% 73 14.1%

May-20 493 -16.2% 74 -22.9%

Jun-20 645 8.0% 88 2.3%

Jul-20 708 19.0% 94 19.0%

Aug-20 644 11.8% 99 26.9%

Sep-20 577 17.0% 108 42.1%

Oct-20 541 9.3% 101 48.5%

Nov-20 528 22.8% 94 42.4%

Dec-20 659 50.1% 130 85.7%

-1.9% 8.1% 50.1% 2.9% 9.7% 9.9% 12-month Avg 539 9.9% 85 16.9%

-12.8% 70.7% 85.7% 10.8% 32.0% 16.9%

December YTD

Historical Sales by Month

406 439

659

4170

130

0

100

200

300

400

500

600

700

800

900

Dec-18 Dec-19 Dec-20

5,359 5,880 6,464

659870

1017

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

0

100

200

300

400

500

600

700

800

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 8

Page 9: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Pending Sales

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 374 -6.3% 42 -19.2%

Feb-20 240 -42.4% 31 -58.7%

Mar-20 291 -46.0% 44 -38.9%

Apr-20 267 -51.7% 41 -52.9%

May-20 329 -44.9% 51 -42.7%

Jun-20 397 -30.5% 55 -14.1%

Jul-20 412 -30.3% 73 4.3%

Aug-20 401 -21.4% 59 -9.2%

Sep-20 307 -35.8% 62 -16.2%

Oct-20 304 -29.1% 49 -26.9%

Nov-20 311 -21.7% 64 10.3%

Dec-20 303 -10.6% 44 -20.0%

6.8% 8.0% -10.6% 3.0% 8.3% -32.4% 12-month Avg 328 -32.4% 51 -25.7%

25.0% 22.2% -20.0% 20.3% 16.5% -25.7%

December YTD

Historical Pending Sales by Month

314 339303

4555

44

0

50

100

150

200

250

300

350

400

450

Dec-18 Dec-19 Dec-20

5,376 5,820

3,936

711828

615

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

0

100

200

300

400

500

600

700

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 9

Page 10: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

New Listings

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 641 8.6% 80 -19.2%

Feb-20 480 -25.2% 62 -30.3%

Mar-20 628 -12.9% 81 -6.9%

Apr-20 512 -35.8% 86 -12.2%

May-20 529 -41.9% 89 -31.0%

Jun-20 586 -22.8% 86 -3.4%

Jul-20 623 -15.7% 111 2.8%

Aug-20 560 -22.3% 95 -6.9%

Sep-20 545 -10.2% 98 7.7%

Oct-20 606 -3.8% 93 9.4%

Nov-20 450 -11.2% 73 -9.9%

Dec-20 418 7.5% 60 33.3%

-2.3% -8.0% 7.5% 0.0% -2.5% -17.9% 12-month Avg 548 -17.9% 85 -8.1%

45.2% -26.2% 33.3% 22.6% 1.2% -8.1%

December YTD

Historical New Listings by Month

423 389 418

6145

60

0

100

200

300

400

500

600

Dec-18 Dec-19 Dec-20

8,215 8,0126,578

1,090 1103

1014

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

0

100

200

300

400

500

600

700

800

900

1000

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 10

Page 11: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Median List Price

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 $289,900 0.0% $260,000 4.0%

Feb-20 $299,950 7.2% $250,000 1.8%

Mar-20 $319,900 7.0% $273,500 9.4%

Apr-20 $328,500 4.3% $268,000 3.1%

May-20 $324,900 0.0% $274,900 2.2%

Jun-20 $329,900 0.3% $269,002 3.5%

Jul-20 $349,000 9.1% $275,000 3.8%

Aug-20 $340,500 9.9% $276,000 6.4%

Sep-20 $339,900 13.3% $284,999 11.8%

Oct-20 $345,000 15.0% $280,000 3.7%

Nov-20 $339,925 13.3% $276,673 6.5%

Dec-20 $335,000 8.3% $276,468 2.6%

1.8% 6.7% 8.3% 6.1% 6.1% 6.6% 12-month Avg $328,531 7.2% $272,045 4.9%

5.2% 2.5% 2.6% 3.1% 6.1% 10.7%

December YTD

Historical Median List Price by Month

$289

,950

$309

,265

$335

,000

$262

,950

$269

,500

$276

,468

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Dec-18 Dec-19 Dec-20

$212

,125

$225

,000

$239

,900

$164

,900

$174

,900

$193

,600

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 11

Page 12: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Median Sales Price

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 $285,000 0.6% $260,000 4.6%

Feb-20 $299,950 9.1% $249,950 3.3%

Mar-20 $318,000 7.8% $271,810 8.8%

Apr-20 $325,000 4.3% $268,000 3.1%

May-20 $320,000 0.0% $273,710 2.3%

Jun-20 $328,000 0.9% $266,990 3.7%

Jul-20 $345,000 8.2% $275,000 4.6%

Aug-20 $340,065 10.6% $275,050 6.0%

Sep-20 $340,000 13.3% $284,330 11.5%

Oct-20 $345,000 16.9% $280,000 3.7%

Nov-20 $340,000 14.9% $275,000 7.6%

Dec-20 $335,000 9.8% $276,948 4.0%

2.2% 6.6% 9.8% 6.1% 4.8% 8.6% 12-month Avg $326,751 8.0% $271,399 5.2%

4.9% 3.6% 4.0% 0.6% 7.9% 10.1%

December YTD

Historical Median Sales Price by Month

$286

,000

$305

,000

$335

,000

$257

,000

$266

,250

$276

,948

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Dec-18 Dec-19 Dec-20

$210

,000

$220

,000

$239

,000

$159

,800

$172

,500

$190

,000

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 12

Page 13: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Sold Dollar Volume (in millions)

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 $78.1 17.0% $7.1 6.0%

Feb-20 $86.3 19.3% $7.5 -23.5%

Mar-20 $117.8 3.3% $11.9 -14.0%

Apr-20 $120.3 1.4% $13.0 12.4%

May-20 $128.1 -13.4% $13.5 -14.1%

Jun-20 $169.5 13.3% $16.3 2.8%

Jul-20 $192.1 26.9% $18.3 44.8%

Aug-20 $174.6 19.6% $19.3 36.6%

Sep-20 $151.7 27.5% $21.8 78.6%

Oct-20 $148.5 23.8% $20.6 75.1%

Nov-20 $143.0 39.3% $19.9 81.4%

Dec-20 $183.1 62.2% $26.2 96.7%

1.2% 20.8% 62.2% 8.2% 14.7% 19.1% 12-month Avg $141.1 19.1% $16.3 31.6%

2.8% 101.5% 96.7% 15.5% 36.5% 31.6%

December YTD

Historical Sold Dollar Volume by Month (in millions)

$93.4$112.9

$183.1$6.6$13.3

$26.2

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

Dec-18 Dec-19 Dec-20

$1,239.0$1,421.1

$1,693.0

$108.9

$148.6

$195.5

$0.0

$200.0

$400.0

$600.0

$800.0

$1,000.0

$1,200.0

$1,400.0

$1,600.0

$1,800.0

$2,000.0

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 13

Page 14: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Median Sold to Ask Price Ratio

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 99.5% 0.6% 100.0% 0.0%

Feb-20 100.0% 0.8% 100.0% 0.0%

Mar-20 100.0% 0.0% 100.0% 0.0%

Apr-20 100.0% 0.0% 100.0% 0.0%

May-20 100.0% 0.0% 100.0% 0.0%

Jun-20 100.0% 0.0% 100.0% 0.0%

Jul-20 100.0% 0.0% 100.0% 0.0%

Aug-20 100.0% 0.0% 100.0% 0.0%

Sep-20 100.0% 0.2% 100.0% 0.0%

Oct-20 100.0% 0.0% 100.0% 0.0%

Nov-20 100.0% 0.0% 100.0% 0.0%

Dec-20 100.0% 0.0% 100.0% 0.0%

0.0% 1.0% 0.0% 0.4% 0.5% 0.0% 12-month Avg 100.0% 0.1% 100.0% 0.0%

0.7% 0.0% 0.0% 0.0% 1.1% 0.2%

December YTD

Historical Median Sold to Ask Price Ratio by Month

99.0%

100.0% 100.0%100.0% 100.0% 100.0%

92.0%

93.0%

94.0%

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

101.0%

Dec-18 Dec-19 Dec-20

99.5%100.0% 100.0%

98.7%

99.8% 100.0%

92.0%

93.0%

94.0%

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

101.0%

Dec-18 Dec-19 Dec-20

Single-Family Detached

Townhome & Condo

92.0%

93.0%

94.0%

95.0%

96.0%

97.0%

98.0%

99.0%

100.0%

101.0%

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 14

Page 15: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Average Days on Market

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 58 -13.5% 42 -13.1%

Feb-20 55 -18.9% 35 -24.9%

Mar-20 45 -23.1% 29 -24.9%

Apr-20 43 -14.8% 30 -2.4%

May-20 40 -11.0% 28 -2.2%

Jun-20 43 3.5% 28 0.0%

Jul-20 42 -1.1% 30 2.7%

Aug-20 41 -13.3% 27 -13.1%

Sep-20 39 -21.1% 26 -21.6%

Oct-20 36 -32.1% 27 -19.8%

Nov-20 32 -40.1% 25 -19.7%

Dec-20 35 -34.7% 29 -22.5%

-7.1% -14.4% -34.7% -14.5% -12.1% -23.8% 12-month Avg 42 -19.2% 30 -14.6%

-13.9% -16.3% -22.5% -11.6% -3.5% -37.5%

December YTD

Historical Average Days on Market

62

53

35

4537

29

0

30

60

90

Dec-18 Dec-19 Dec-20

6557

43

65 63

39

0

30

60

90

Dec-18 Dec-19 Dec-20

Single-Family DetachedTownhome & Condo

0

30

60

90

120

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 15

Page 16: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Active Listings

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 1,486 -16.0% 205 -23.2%

Feb-20 1,591 -12.0% 218 -10.7%

Mar-20 1,673 -5.9% 221 -7.1%

Apr-20 1,592 -12.6% 223 -3.0%

May-20 1,456 -25.9% 219 -12.4%

Jun-20 1,352 -30.0% 212 -15.5%

Jul-20 1,308 -28.9% 218 -15.2%

Aug-20 1,220 -32.0% 218 -18.7%

Sep-20 1,216 -28.0% 222 -5.1%

Oct-20 1,284 -24.0% 213 -7.8%

Nov-20 1,179 -26.4% 190 -18.8%

Dec-20 1,032 -28.1% 160 -18.4%

-4.9% -22.3% -28.1% 12-month Avg 1,366 -22.4% 210 -13.1%

12.1% -21.6% -18.4%

December

Historical Active Listings by Month

1,8481,436

1,032

250

196

160

0

500

1,000

1,500

2,000

2,500

Dec-18 Dec-19 Dec-20

Townhome & CondoSingle-Family Detached

0

500

1,000

1,500

2,000

2,500

3,000

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 16

Page 17: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Months of Supply

Single-Family Townhomes & Month Detached YoY Chg Condos YoY Chg

Jan-20 2.8 -21.9% 2.5 -16.1%

Feb-20 2.8 -22.7% 2.6 -13.4%

Mar-20 2.9 -22.2% 2.8 -9.9%

Apr-20 2.9 -27.7% 1.9 -39.0%

May-20 2.7 -35.7% 1.9 -41.7%

Jun-20 2.3 -43.7% 1.7 -45.4%

Jul-20 2.4 -42.0% 1.9 -39.5%

Aug-20 2.2 -46.0% 1.9 -37.9%

Sep-20 2.1 -46.9% 2.1 -32.0%

Oct-20 2.0 -46.1% 2.1 -30.5%

Nov-20 1.8 -47.6% 1.9 -33.7%

Dec-20 1.5 -47.2% 1.5 -39.7%

-4.4% -20.7% -47.2% 12-month Avg 2.4 -37.4% 2.1 -31.6%

-9.9% -17.4% -39.7%

December

Historical Months of Supply by Month

3.6

2.9

1.5

3.0

2.5

1.5

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

Dec-18 Dec-19 Dec-20

Single-Family Detached

Townhome & Condo

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20

Single-Family Detached Townhome & Condo

YoY

Chg

Source: Virginia REALTORS®, data accessed January 15, 2021 17

Page 18: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Area Overview - Total Market

Geography Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg

Hampton 155 164 5.8% 160 244 52.5% $187,000 $219,990 17.6% 519 376 -27.6% 2.8 1.8 -33.8%

Isle of Wight County 44 55 25.0% 48 86 79.2% $317,000 $350,124 10.4% 207 176 -15.0% 3.8 2.7 -27.9%

Newport News 159 179 12.6% 179 308 72.1% $193,800 $222,500 14.8% 523 361 -31.0% 2.6 1.6 -39.3%

Poquoson 17 14 -17.6% 17 21 23.5% $329,000 $385,000 17.0% 82 53 -35.4% 4.9 2.7 -45.6%

York County 59 66 11.9% 105 130 23.8% $322,500 $324,825 0.7% 301 226 -24.9% 2.9 2.0 -31.1%

Months SupplyActive ListingsMedian Sales PriceSalesNew Listings

Source: Virginia REALTORS®, data accessed January 15, 2021 18

Page 19: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Area Overview - Total Market YTD

Geography Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg

Hampton 2,982 2,318 -22.3% 2,241 2,417 7.9% $179,000 $200,000 11.7% 519 376 -27.6%

Isle of Wight County 953 864 -9.3% 653 764 17.0% $295,000 $325,000 10.2% 207 176 -15.0%

Newport News 3,123 2,693 -13.8% 2,417 2,723 12.7% $189,900 $212,500 11.9% 523 361 -31.0%

Poquoson 390 320 -17.9% 202 236 16.8% $325,000 $333,750 2.7% 82 53 -35.4%

York County 1,667 1,389 -16.7% 1,237 1,341 8.4% $305,900 $315,000 3.0% 301 226 -24.9%

New Listings YTD Sales YTD Median Sales Price YTD Active Listings YTD

Source: Virginia REALTORS®, data accessed January 15, 2021 19

Page 20: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Area Overview - Single Family Detached Market

Geography Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg

Hampton 145 152 4.8% 147 211 43.5% $193,500 $225,000 16.3% 486 338 -30.5% 2.8 1.8 -35.2%

Isle of Wight County 40 49 22.5% 45 77 71.1% $324,900 $362,000 11.4% 188 153 -18.6% 3.9 2.7 -30.7%

Newport News 135 152 12.6% 149 242 62.4% $197,000 $230,875 17.2% 455 320 -29.7% 2.7 1.6 -37.9%

Poquoson 17 14 -17.6% 14 20 42.9% $335,000 $392,450 17.1% 71 50 -29.6% 4.8 2.7 -43.5%

York County 52 51 -1.9% 84 109 29.8% $347,500 $356,760 2.7% 236 171 -27.5% 2.8 1.9 -33.2%

New Listings Sales Median Sales Price Active Listings Months Supply

Source: Virginia REALTORS®, data accessed January 15, 2021 20

Page 21: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Area Overview - Single Family Detached Market YTD

Geography Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg

Hampton 2,774 2,067 -25.5% 2,068 2,187 5.8% $181,000 $203,900 12.7% 486 338 -30.5%

Isle of Wight County 873 762 -12.7% 582 677 16.3% $315,000 $343,000 8.9% 188 153 -18.6%

Newport News 2,666 2,321 -12.9% 2,057 2,306 12.1% $199,900 $220,000 10.1% 455 320 -29.7%

Poquoson 359 303 -15.6% 179 219 22.3% $340,000 $345,000 1.5% 71 50 -29.6%

York County 1,340 1,125 -16.0% 994 1,075 8.1% $333,625 $344,950 3.4% 236 171 -27.5%

New Listings YTD Sales YTD Median Sales Price YTD Active Listings YTD

Source: Virginia REALTORS®, data accessed January 15, 2021 21

Page 22: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Area Overview - Townhome & Condo Market

Geography Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg

Hampton 10 12 20.0% 13 33 153.8% $144,900 $198,500 37.0% 33 38 15.2% 2.3 1.9 -14.9%

Isle of Wight County 4 6 50.0% 3 9 200.0% $268,990 $268,715 -0.1% 19 23 21.1% 3.2 3.2 -1.2%

Newport News 24 27 12.5% 30 66 120.0% $158,700 $185,500 16.9% 68 41 -39.7% 2.3 1.2 -48.6%

Poquoson 0 0 n/a 3 1 -66.7% $225,000 $310,000 37.8% 11 3 -72.7% 5.7 2.1 -63.1%

York County 7 15 114.3% 21 21 0.0% $254,900 $217,000 -14.9% 65 55 -15.4% 3.2 2.4 -23.8%

New Listings Sales Median Sales Price Active Listings Months Supply

Source: Virginia REALTORS®, data accessed January 15, 2021 22

Page 23: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson

Area Overview - Townhome & Condo Market YTD

Geography Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg Dec-19 Dec-20 % chg

Hampton 208 251 20.7% 173 230 32.9% $146,000 $178,975 22.6% 33 38 15.2%

Isle of Wight County 80 102 27.5% 71 87 22.5% $198,000 $240,000 21.2% 19 23 21.1%

Newport News 457 372 -18.6% 360 417 15.8% $114,450 $155,000 35.4% 68 41 -39.7%

Poquoson 31 17 -45.2% 23 17 -26.1% $255,950 $254,000 -0.8% 11 3 -72.7%

York County 327 272 -16.8% 243 266 9.5% $220,000 $225,500 2.5% 65 55 -15.4%

New Listings YTD Sales YTD Median Sales Price YTD Active Listings YTD

Source: Virginia REALTORS®, data accessed January 15, 2021 23

Page 24: MARKET INDICATORS REPORT · 2021. 1. 20. · Market Activity - Virginia Peninsula Footprint Jurisdiction % Chg Hampton 52.5% Isle of Wight County 79.2% Newport News 72.1% Poquoson