The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market March 2018

Zip Code(s): 21047 and 21085
Units Sold
34
Active Inventory
80
Median Sale Price
$320,000
Days On Market
61
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down
Vs. Year Ago
Down -36%
Vs. Year Ago
Up
Vs. Year Ago
Up 11%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 34 sold this month in Fallston and Joppa Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2017.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 45 units or 36%. The total number of active inventory this March was 80 compared to 125 in March 2017. This month's total of 80 is lower than the previous month's total supply of available inventory of 91, a decrease of 12%.

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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Fallston and Joppa Homes was $263,600. This March, the median sale price was $320,000, an increase of $56,400 compared to last year. The current median sold price is higher than in February.

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

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New Listings
47
Current Contracts
44
Sold Vs. List Price
98.5%
Months of Supply
2.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -30%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In March, there was 2.4 months of supply available in Fallston and Joppa, compared to 3.0 in March 2017. That is a decrease of 21% 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.

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New Listings & Current Contracts
This month there were 47 homes newly listed for sale in Fallston and Joppa compared to 67 in March 2017, a decrease of 30%. There were 44 current contracts pending sale this March compared to 47 a year ago. The number of current contracts is 6% lower than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Fallston and Joppa was 98.5% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 61, higher than the average last year, which was 55, an increase of 11%.

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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.