The Long & Foster Market Minute

Focus On: Forest Hill, Jarrettsville, and Northern Harford County Housing Market August 2018

Zip Code(s): 21050, 21084, 21154, 21132, 21160 and 21034
Units Sold
56
Active Inventory
155
Median Sale Price
$380,000
Days On Market
40
Down -7%
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 56 sold this month in Forest Hill, Jarrettsville, and Northern Harford County Real Estate versus 57 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 7% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 19%. The total number of active inventory this August was 155 compared to 192 in August 2017. This month's total of 155 is lower than the previous month's total supply of available inventory of 160, a decrease of 3%.

Median Sale Price
Last August, the median sale price for Forest Hill, Jarrettsville, and Northern Harford County Homes was $370,750. This August, the median sale price was $380,000, an increase of 2% or $9,250 compared to last year. The current median sold price is 5% lower 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
58
Current Contracts
45
Sold Vs. List Price
99.0%
Months of Supply
2.8
Down -28%
Vs. Year Ago
Down -18%
Vs. Year Ago
No Change
Vs. Year Ago
Down -14%
Vs. Year Ago

Months of Supply
In August, there was 2.8 months of supply available in Forest Hill, Jarrettsville, and Northern Harford County, compared to 3.2 in August 2017. That is a decrease of 14% 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 58 homes newly listed for sale in Forest Hill, Jarrettsville, and Northern Harford County compared to 81 in August 2017, a decrease of 28%. There were 45 current contracts pending sale this August compared to 55 a year ago. The number of current contracts is 18% lower than last August.

Sale Price to List Price Ratio
In August, the average sale price in Forest Hill, Jarrettsville, and Northern Harford County was 99.0% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 40, lower than the average last year, which was 64, a decrease of 38%.

The Long & Foster Market Minute Forest Hill, Jarrettsville, and Northern Harford County are defined as properties listed in zip code/s 21050, 21084, 21154, 21132, 21160 and 21034.
*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.