The Long & Foster Market Minute

Focus On: Edgewater Housing Market August 2019

Zip Code(s): 21037 and 21140
Units Sold
53
Active Inventory
160
Median Sale Price
$412,000
Days On Market
48
Up 29%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 53 sold this month in Edgewater Real Estate versus 51 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 29% versus August 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 17 units or 10%. The total number of active inventory this August was 160 compared to 177 in August 2018. This month's total of 160 is lower than the previous month's total supply of available inventory of 189, a decrease of 15%.

Median Sale Price
Last August, the median sale price for Edgewater Homes was $374,500. This August, the median sale price was $412,000, an increase of 10% or $37,500 compared to last year. The current median sold price is 8% lower than in July.

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


New Listings
54
Current Contracts
56
Sold Vs. List Price
98.6%
Months of Supply
3.0
Down -17%
Vs. Year Ago
Up 27%
Vs. Year Ago
Up 4.2%
Vs. Year Ago
Down -30%
Vs. Year Ago

Months of Supply
In August, there was 3.0 months of supply available in Edgewater, compared to 4.3 in August 2018. That is a decrease of 30% 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 54 homes newly listed for sale in Edgewater compared to 65 in August 2018, a decrease of 17%. There were 56 current contracts pending sale this August compared to 44 a year ago. The number of current contracts is 27% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Edgewater was 98.6% of the average list price, which is 4.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 48, lower than the average last year, which was 57, a decrease of 16%.

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.