The Long & Foster Market Minute

Focus On: Charles County Housing Market January 2019

Units Sold
123
Active Inventory
640
Median Sale Price
$289,900
Days On Market
90
Down -25%
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 27%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 123 sold this month in Charles County Real Estate versus 178 last month, a decrease of 31%. This month's total units sold was lower than at this time last year, a decrease of 25% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 79 units or 11%. The total number of active inventory this January was 640 compared to 719 in January 2018. This month's total of 640 is lower than the previous month's total supply of available inventory of 746, a decrease of 14%.

Median Sale Price
Last January, the median sale price for Charles County Homes was $295,000. This January, the median sale price was $289,900, a decrease of 2% or $5,100 compared to last year. The current median sold price is 3% lower than in December.

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


New Listings
288
Current Contracts
210
Sold Vs. List Price
99.5%
Months of Supply
5.2
Up 14%
Vs. Year Ago
Up 15%
Vs. Year Ago
No Change
Vs. Year Ago
Up 19%
Vs. Year Ago

Months of Supply
In January, there was 5.2 months of supply available in Charles County, compared to 4.4 in January 2018. That is an increase 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 288 homes newly listed for sale in Charles County compared to 252 in January 2018, an increase of 14%. There were 210 current contracts pending sale this January compared to 182 a year ago. The number of current contracts is 15% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Charles County was 99.5% 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 90, higher than the average last year, which was 71, an increase of 27%.

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 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.