The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market September 2018

Units Sold
774
Active Inventory
5,728
Median Sale Price
$260,000
Days On Market
78
Down -19%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 774 sold this month in Eastern Shore Maryland Real Estate versus 1,090 last month, a decrease of 29%. This month's total units sold was lower than at this time last year, a decrease of 19% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 798 units or 12%. The total number of active inventory this September was 5,728 compared to 6,526 in September 2017. This month's total of 5,728 is lower than the previous month's total supply of available inventory of 6,030, a decrease of 5%.

Median Sale Price
Last September, the median sale price for Eastern Shore Maryland Homes was $247,000. This September, the median sale price was $260,000, an increase of 5% or $13,000 compared to last year. The current median sold price is 2% lower than in August.

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


New Listings
1,233
Current Contracts
966
Sold Vs. List Price
97.0%
Months of Supply
7.4
Down -4%
Vs. Year Ago
Up 2%
Vs. Year Ago
No Change
Vs. Year Ago
Up 8%
Vs. Year Ago

Months of Supply
In September, there was 7.4 months of supply available in Eastern Shore Maryland, compared to 6.9 in September 2017. That is an increase of 8% 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 1,233 homes newly listed for sale in Eastern Shore Maryland compared to 1,285 in September 2017, a decrease of 4%. There were 966 current contracts pending sale this September compared to 947 a year ago. The number of current contracts is 2% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Eastern Shore Maryland was 97.0% 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 78, lower than the average last year, which was 115, a decrease of 32%.

The Long & Foster Market Minute *Defined as the counties Caroline, Cecil, Dorchester, Kent, Queen Annes, Somerset, Talbot, Wicomico, and Worcester in MD and Sussex County in DE
*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/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 MRIS/BRIGHTMLS or Long & Foster Real Estate, Inc.