The Long & Foster Market Minute

Focus On: Bel Air Housing Market December 2017

Zip Code(s): 21014 and 21015
Units Sold
107
Active Inventory
196
Median Sale Price
$297,500
Days On Market
52
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 20%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 107 sold this month in Bel Air Real Estate versus 86 last month, an increase of 24%. This month's total units sold was higher than at this time last year, an increase of 20% versus December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 20%. The total number of active inventory this December was 196 compared to 244 in December 2016. This month's total of 196 is lower than the previous month's total supply of available inventory of 244, a decrease of 20%.

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Median Sale Price
Last December, the median sale price for Bel Air Homes was $263,000. This December, the median sale price was approximately the same at $297,500. The current median sold price is 13% higher than in December 2016.

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
58
Current Contracts
68
Sold Vs. List Price
98.9%
Months of Supply
1.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 12%
Vs. Year Ago
Up 11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In December, there was 1.8 months of supply available in Bel Air, compared to 2.7 in December 2016. That is a decrease of 33% 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 58 homes newly listed for sale in Bel Air compared to 52 in December 2016, an increase of 12%. There were 68 current contracts pending sale this December compared to 61 a year ago. The number of current contracts is 11% higher than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Bel Air was 98.9% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 52, lower than the average last year, which was 59, a decrease of 12%.

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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 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.