The Long & Foster Market Minute

Focus On: Cecil County Housing Market May 2018

Units Sold
141
Active Inventory
520
Median Sale Price
$242,500
Days On Market
70
Up 4%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 19%
Vs. Year Ago
Up 1%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 141 sold this month in Cecil County Real Estate versus 121 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 4% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 112 units or 18%. The total number of active inventory this May was 520 compared to 632 in May 2017. This month's total of 520 is higher than the previous month's total supply of available inventory of 469, an increase of 11%.

Median Sale Price
Last May, the median sale price for Cecil County Homes was $203,000. This May, the median sale price was $242,500, an increase of 19% or $39,500 compared to last year. The current median sold price is 19% higher than in April.

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


New Listings
237
Current Contracts
143
Sold Vs. List Price
98.0%
Months of Supply
3.7
Up 19%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In May, there was 3.7 months of supply available in Cecil County, compared to 4.7 in May 2017. That is a decrease of 21% 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 237 homes newly listed for sale in Cecil County compared to 200 in May 2017, an increase of 19%. There were 143 current contracts pending sale this May compared to 164 a year ago. The number of current contracts is 13% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Cecil County was 98.0% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 70, higher than the average last year, which was 69, an increase of 1%.

The Long & Foster Market Minute
*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.