The Long & Foster Market Minute

Focus On: Arnold and Broadneck Housing Market March 2018

Zip Code(s): 21409 and 21012
Units Sold
55
Active Inventory
194
Median Sale Price
$355,000
Days On Market
48
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -18%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -41%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 55 sold this month in Arnold and Broadneck Real Estate. This month's total units sold was lower than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 8%. The total number of active inventory this March was 194 compared to 212 in March 2017. This month's total of 194 is higher than the previous month's total supply of available inventory of 183, an increase of 6%.

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Median Sale Price
Last March, the median sale price for Arnold and Broadneck Homes was $384,900. This March, the median sale price was $355,000, a decrease of 8% or $29,900 compared to last year. The current median sold price is 16% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
123
Current Contracts
83
Sold Vs. List Price
97.7%
Months of Supply
3.5
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 12%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Up 12%
Vs. Year Ago

Months of Supply
In March, there was 3.5 months of supply available in Arnold and Broadneck, compared to 3.2 in March 2017. That is an increase of 11% 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.

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New Listings & Current Contracts
This month there were 123 homes newly listed for sale in Arnold and Broadneck compared to 110 in March 2017, an increase of 12%. There were 83 current contracts pending sale this March compared to 70 a year ago. The number of current contracts is 19% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Arnold and Broadneck was 97.7% of the average list price, which is 1.8% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 48, lower than the average last year, which was 82, a decrease of 41%.

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The Long & Foster Market Minute Arnold and Broadneck are defined as properties listed in zip code/s 21409 and 21012.
*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.