The Long & Foster Market Minute

Focus On: Charles County Housing Market December 2017

Units Sold
212
Active Inventory
729
Median Sale Price
$295,000
Days On Market
57
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -15%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 212 sold this month in Charles County Real Estate versus 228 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 15% versus December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 159 units or 18%. The total number of active inventory this December was 729 compared to 888 in December 2016. This month's total of 729 is lower than the previous month's total supply of available inventory of 858, a decrease of 15%.

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Median Sale Price
Last December, the median sale price for Charles County Homes was $263,500. This December, the median sale price was $295,000, an increase of 12% or $31,500 compared to last year. The current median sold price is 2% higher than in November.

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
189
Current Contracts
209
Sold Vs. List Price
99.4%
Months of Supply
3.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -4%
Vs. Year Ago
Up 40%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -4%
Vs. Year Ago

Months of Supply
In December, there was 3.4 months of supply available in Charles County, compared to 3.6 in December 2016. That is a decrease of 4% 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 189 homes newly listed for sale in Charles County compared to 197 in December 2016, a decrease of 4%. There were 209 current contracts pending sale this December compared to 149 a year ago. The number of current contracts is 40% higher than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Charles County was 99.4% of the average list price, which is 0.6% 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 65, a decrease of 12%.

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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.