The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market June 2018

Units Sold
1,223
Active Inventory
6,813
Median Sale Price
$265,276
Days On Market
90
Down -6%
Vs. Year Ago
Down -13%
Vs. Year Ago
Up 8%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 1,223 sold this month in Eastern Shore Maryland Real Estate versus 1,199 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 6% versus June 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,003 units or 13%. The total number of active inventory this June was 6,813 compared to 7,816 in June 2017. This month's total of 6,813 is lower than the previous month's total supply of available inventory of 7,020, a decrease of 3%.

Median Sale Price
Last June, the median sale price for Eastern Shore Maryland Homes was $245,000. This June, the median sale price was $265,276, an increase of 8% or $20,276 compared to last year. The current median sold price is 3% higher than in May.

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


New Listings
1,587
Current Contracts
1,209
Sold Vs. List Price
97.6%
Months of Supply
5.6
Down -8%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -7%
Vs. Year Ago

Months of Supply
In June, there was 5.6 months of supply available in Eastern Shore Maryland, compared to 6.0 in June 2017. That is a decrease of 7% 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 1,587 homes newly listed for sale in Eastern Shore Maryland compared to 1,717 in June 2017, a decrease of 8%. There were 1,209 current contracts pending sale this June compared to 1,239 a year ago. The number of current contracts is 2% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Eastern Shore Maryland was 97.6% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 90, lower than the average last year, which was 110, a decrease of 18%.

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 BRIGHTMLS/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 BRIGHTMLS/MRIS or Long & Foster Real Estate, Inc.