The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market April 2018

Units Sold
1,082
Active Inventory
6,052
Median Sale Price
$245,000
Days On Market
106
Down -1%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 1,082 sold this month in Eastern Shore Maryland Real Estate versus 1,043 last month, an increase of 4%. This month's total units sold was lower than at this time last year, a decrease of 1% versus April 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,235 units or 17%. The total number of active inventory this April was 6,052 compared to 7,287 in April 2017. This month's total of 6,052 is higher than the previous month's total supply of available inventory of 5,986, an increase of 1%.

Median Sale Price
Last April, the median sale price for Eastern Shore Maryland Homes was $242,900. This April, the median sale price was $245,000, an increase of 1% or $2,100 compared to last year. The current median sold price is 4% lower than in March.

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


New Listings
1,721
Current Contracts
1,267
Sold Vs. List Price
97.2%
Months of Supply
5.6
Up 1%
Vs. Year Ago
Up 10%
Vs. Year Ago
No Change
Vs. Year Ago
Down -16%
Vs. Year Ago

Months of Supply
In April, there was 5.6 months of supply available in Eastern Shore Maryland, compared to 6.7 in April 2017. That is a decrease of 16% 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 1,721 homes newly listed for sale in Eastern Shore Maryland compared to 1,701 in April 2017, an increase of 1%. There were 1,267 current contracts pending sale this April compared to 1,155 a year ago. The number of current contracts is 10% higher than last April.

Sale Price to List Price Ratio
In April, the average sale price in Eastern Shore Maryland was 97.2% 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 106, lower than the average last year, which was 120, a decrease of 12%.

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 SCAOR/MRIS/CAR 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 SCAOR/MRIS/CAR or Long & Foster Real Estate, Inc.