The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market August 2018

Zip Code(s): 21047 and 21085
Units Sold
42
Active Inventory
115
Median Sale Price
$326,000
Days On Market
37
Up 17%
Vs. Year Ago
Down -14%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -27%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 42 sold this month in Fallston and Joppa Real Estate versus 38 last month, an increase of 11%. This month's total units sold was higher than at this time last year, an increase of 17% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 14%. The total number of active inventory this August was 115 compared to 134 in August 2017. This month's total of 115 is higher than the previous month's total supply of available inventory of 113, an increase of 2%.

Median Sale Price
Last August, the median sale price for Fallston and Joppa Homes was $328,550. This August, the median sale price was $326,000, a decrease of $2,550 compared to last year. The current median sold price is higher 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
65
Current Contracts
50
Sold Vs. List Price
98.9%
Months of Supply
2.7
Up 38%
Vs. Year Ago
Up 47%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In August, there was 2.7 months of supply available in Fallston and Joppa, compared to 3.7 in August 2017. That is a decrease of 26% 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 65 homes newly listed for sale in Fallston and Joppa compared to 47 in August 2017, an increase of 38%. There were 50 current contracts pending sale this August compared to 34 a year ago. The number of current contracts is 47% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Fallston and Joppa was 98.9% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 37, lower than the average last year, which was 51, a decrease of 27%.

The Long & Foster Market Minute Fallston and Joppa are defined as properties listed in zip code/s 21047 and 21085.
*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 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 or Long & Foster Real Estate, Inc.