Editor, Gazette-Journal: As we move into summer, I want to share what the numbers are telling us about the Middle Peninsula housing market—and what’s driving them. The Chesapeake Bay & Rivers Association of Realtors’ latest quarterly report shows a market that’s cooling from the frenzy of recent years, but in a healthy way. Across our region—Gloucester, Mathews, Middlesex, and parts of King & Queen and King William—227 homes sold in the first quarter, about 11 percent fewer than a year ago. At the same time, the number of homes for sale grew 25 percent, to 417 active listings. Months of supply rose to 4.2 from 3.4 a year ago, nudging us toward a more balanced market where neither buyers nor sellers hold all the cards. Prices tell a more local story. Gloucester led the region with median prices up nearly 27 percent, and Middlesex rose about 16 percent. Mathews moved the other way, with its median slipping from roughly $383,000 to $318,000—a reminder that just a handful of sales ...
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