The Long & Foster Market Minute

Focus On: Bel Air Housing Market August 2018

Zip Code(s): 21014 and 21015
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 5%
Vs. Year Ago
Down -17%
Vs. Year Ago
Down -12%
Vs. Year Ago
Down -28%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 120 sold this month in Bel Air Real Estate versus 113 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 5% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 50 units or 17%. The total number of active inventory this August was 236 compared to 286 in August 2017. This month's total of 236 is higher than the previous month's total supply of available inventory of 218, an increase of 8%.

Median Sale Price
Last August, the median sale price for Bel Air Homes was $311,000. This August, the median sale price was $272,450, a decrease of 12% or $38,550 compared to last year. The current median sold price is 12% lower than in July.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 18%
Vs. Year Ago
Up 14%
Vs. Year Ago
No Change
Vs. Year Ago
Down -22%
Vs. Year Ago

Months of Supply
In August, there was 2.0 months of supply available in Bel Air, compared to 2.5 in August 2017. That is a decrease of 22% 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 148 homes newly listed for sale in Bel Air compared to 125 in August 2017, an increase of 18%. There were 95 current contracts pending sale this August compared to 83 a year ago. The number of current contracts is 14% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Bel Air was 98.8% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 26, lower than the average last year, which was 36, a decrease of 28%.

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.