The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market September 2020

Zip Code(s): 21047 and 21085
Units Sold
51
Active Inventory
38
Median Sale Price
$293,000
Days On Market
28
Up 34%
Vs. Year Ago
Down -64%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -40%
Vs. Year Ago

Units Sold
There was an increase in total units sold in September, with 51 sold this month in Fallston and Joppa Real Estate versus 48 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 34% versus September 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 68 units or 64%. The total number of active inventory this September was 38 compared to 106 in September 2019. This month's total of 38 is higher than the previous month's total supply of available inventory of 36, an increase of 6%.

Median Sale Price
Last September, the median sale price for Fallston and Joppa Homes was $267,500. This September, the median sale price was $293,000, an increase of 10% or $25,500 compared to last year. The current median sold price is 16% lower than in August.

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


New Listings
51
Current Contracts
42
Sold Vs. List Price
100.4%
Months of Supply
0.7
No Change
Vs. Year Ago
Up 20%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In September, there was 0.7 months of supply available in Fallston and Joppa, compared to 2.8 in September 2019. That is a decrease of 73% 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 51 homes newly listed for sale in Fallston and Joppa, which is similar to the amount in September 2019. There were 42 current contracts pending sale this September compared to 35 a year ago. The number of current contracts is 20% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Fallston and Joppa was 100.4% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 47, a decrease of 40%.

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 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.