The Long & Foster Market Minute

Focus On: Bel Air Housing Market October 2018

Zip Code(s): 21014 and 21015
Units Sold
74
Active Inventory
211
Median Sale Price
$278,500
Days On Market
49
Down -6%
Vs. Year Ago
Down -24%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 74 sold this month in Bel Air Real Estate versus 71 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 6% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 24%. The total number of active inventory this October was 211 compared to 277 in October 2017. This month's total of 211 is lower than the previous month's total supply of available inventory of 248, a decrease of 15%.

Median Sale Price
Last October, the median sale price for Bel Air Homes was $282,000. This October, the median sale price was $278,500, a decrease of 1% or $3,500 compared to last year. The current median sold price is 1% lower than in September.

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


New Listings
100
Current Contracts
104
Sold Vs. List Price
98.5%
Months of Supply
2.9
Down -21%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -0.9%
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In October, there was 2.9 months of supply available in Bel Air, compared to 3.5 in October 2017. That is a decrease of 19% 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 100 homes newly listed for sale in Bel Air compared to 127 in October 2017, a decrease of 21%. There were 104 current contracts pending sale this October compared to 94 a year ago. The number of current contracts is 11% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Bel Air was 98.5% of the average list price, which is 0.9% lower than at this time last year.

Days on Market
This month, the average number of days on market was 49, lower than the average last year, which was 61, a decrease of 20%.

The Long & Foster Market Minute Bel Air are defined as properties listed in zip code/s 21014 and 21015.
*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 BRIGHTMLS 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 BRIGHTMLS or Long & Foster Real Estate, Inc.