The Long & Foster Market Minute

Focus On: Dorchester County Housing Market May 2020

Units Sold
27
Active Inventory
193
Median Sale Price
$209,000
Days On Market
86
Down
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 16%
Vs. Year Ago
Up 41%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in May, with 27 sold this month in Dorchester County Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 75 units or 28%. The total number of active inventory this May was 193 compared to 268 in May 2019. This month's total of 193 is lower than the previous month's total supply of available inventory of 199, a decrease of 3%.

Median Sale Price
Last May, the median sale price for Dorchester County Homes was $179,950. This May, the median sale price was $209,000, an increase of 16% or $29,050 compared to last year. The current median sold price is 3% lower 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
49
Current Contracts
39
Sold Vs. List Price
93.9%
Months of Supply
7.1
Up 9%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -2.4%
Vs. Year Ago
Up 23%
Vs. Year Ago

Months of Supply
In May, there was 7.1 months of supply available in Dorchester County, compared to 5.8 in May 2019. That is an increase of 23% 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 49 homes newly listed for sale in Dorchester County compared to 45 in May 2019, an increase of 9%. There were 39 current contracts pending sale this May compared to 32 a year ago. The number of current contracts is 22% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Dorchester County was 93.9% of the average list price, which is 2.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 86, higher than the average last year, which was 61, an increase of 41%.

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.