The Long & Foster Market Minute

Focus On: Bel Air Housing Market March 2018

Zip Code(s): 21014 and 21015
Units Sold
90
Active Inventory
161
Median Sale Price
$267,950
Days On Market
57
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 22%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 90 sold this month in Bel Air Real Estate. This month's total units sold was higher 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 82 units or 34%. The total number of active inventory this March was 161 compared to 243 in March 2017. This month's total of 161 is higher than the previous month's total supply of available inventory of 160, an increase of 1%.

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Median Sale Price
Last March, the median sale price for Bel Air Homes was $265,950. This March, the median sale price was $267,950, an increase of 1% or $2,000 compared to last year. The current median sold price is 6% higher 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
126
Current Contracts
98
Sold Vs. List Price
99.5%
Months of Supply
1.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -18%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
Down -45%
Vs. Year Ago

Months of Supply
In March, there was 1.8 months of supply available in Bel Air, compared to 3.3 in March 2017. That is a decrease of 46% 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 126 homes newly listed for sale in Bel Air compared to 153 in March 2017, a decrease of 18%. There were 98 current contracts pending sale this March compared to 111 a year ago. The number of current contracts is 12% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Bel Air was 99.5% of the average list price, which is 1.4% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 61, a decrease of 7%.

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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.