The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market December 2017

Zip Code(s): 21047 and 21085
Units Sold
34
Active Inventory
100
Median Sale Price
$283,000
Days On Market
57
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in December, with 34 sold this month in Fallston and Joppa Real Estate. This month's total units sold was higher than at this time last year, an increase from December 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 19 units or 16%. The total number of active inventory this December was 100 compared to 119 in December 2016. This month's total of 100 is lower than the previous month's total supply of available inventory of 109, a decrease of 8%.

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Median Sale Price
Last December, the median sale price for Fallston and Joppa Homes was $246,000. This December, the median sale price was $283,000, an increase of 15% or $37,000 compared to last year. The current median sold price is 12% higher than in November.

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
29
Current Contracts
17
Sold Vs. List Price
98.9%
Months of Supply
2.9
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 7%
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 0.8%
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In December, there was 2.9 months of supply available in Fallston and Joppa, compared to 4.8 in December 2016. That is a decrease of 38% 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 29 homes newly listed for sale in Fallston and Joppa compared to 27 in December 2016, an increase of 7%. There were 17 current contracts pending sale this December compared to 27 a year ago. The number of current contracts is 37% lower than last December.

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Sale Price to List Price Ratio
In December, the average sale price in Fallston and Joppa was 98.9% of the average list price, which is 0.8% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 57, lower than the average last year, which was 81, a decrease of 30%.

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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.