The Long & Foster Market Minute

Focus On: Federal Hill, Locust Point, and South Baltimore Housing Market April 2020

Zip Code(s): 21230
Units Sold
84
Active Inventory
234
Median Sale Price
$257,250
Days On Market
60
Down -6%
Vs. Year Ago
Down -40%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in April, with 84 sold this month in Federal Hill, Locust Point, and South Baltimore Real Estate versus 68 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 6% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 156 units or 40%. The total number of active inventory this April was 234 compared to 390 in April 2019. This month's total of 234 is lower than the previous month's total supply of available inventory of 279, a decrease of 16%.

Median Sale Price
Last April, the median sale price for Federal Hill, Locust Point, and South Baltimore Homes was $242,500. This April, the median sale price was $257,250, an increase of 6% or $14,750 compared to last year. The current median sold price is 6% lower than in March.

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


New Listings
89
Current Contracts
83
Sold Vs. List Price
98.8%
Months of Supply
2.8
Down -48%
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 1.9%
Vs. Year Ago
Down -36%
Vs. Year Ago

Months of Supply
In April, there was 2.8 months of supply available in Federal Hill, Locust Point, and South Baltimore, compared to 4.4 in April 2019. That is a decrease of 36% 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 89 homes newly listed for sale in Federal Hill, Locust Point, and South Baltimore compared to 170 in April 2019, a decrease of 48%. There were 83 current contracts pending sale this April compared to 97 a year ago. The number of current contracts is 14% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Federal Hill, Locust Point, and South Baltimore was 98.8% of the average list price, which is 1.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 60, higher than the average last year, which was 56, an increase of 7%.

The Long & Foster Market Minute Federal Hill, Locust Point, and South Baltimore are defined as properties listed in zip code/s 21230.
*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.