The Long & Foster Market Minute

Focus On: Edgewater Housing Market February 2019

Zip Code(s): 21037 and 21140
Units Sold
23
Active Inventory
124
Median Sale Price
$384,200
Days On Market
134
Down -8%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
There was a decrease in total units sold in February, with 23 sold this month in Edgewater Real Estate versus 26 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 8% versus February 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 6%. The total number of active inventory this February was 124 compared to 117 in February 2018. This month's total of 124 is lower than the previous month's total supply of available inventory of 128, a decrease of 3%.

Median Sale Price
Last February, the median sale price for Edgewater Homes was $415,000. This February, the median sale price was $384,200, a decrease of 7% or $30,800 compared to last year. The current median sold price is 12% lower than in January.

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


New Listings
50
Current Contracts
43
Sold Vs. List Price
95.1%
Months of Supply
5.4
Up 19%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -2.7%
Vs. Year Ago
Up 15%
Vs. Year Ago

Months of Supply
In February, there was 5.4 months of supply available in Edgewater, compared to 4.7 in February 2018. That is an increase of 15% 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 50 homes newly listed for sale in Edgewater compared to 42 in February 2018, an increase of 19%. There were 43 current contracts pending sale this February compared to 35 a year ago. The number of current contracts is 23% higher than last February.

Sale Price to List Price Ratio
In February, the average sale price in Edgewater was 95.1% of the average list price, which is 2.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 134, higher than the average last year, which was 81. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute Edgewater are defined as properties listed in zip code/s 21037 and 21140.
*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.