The Long & Foster Market Minute

Focus On: Harford County Housing Market October 2017

Units Sold
307
Active Inventory
1,052
Median Sale Price
$245,000
Days On Market
49
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 10%
Vs. Year Ago
Down -21%
Vs. Year Ago
Down -8%
Vs. Year Ago
Down -21%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 307 sold this month in Harford County Real Estate versus 302 last month, an increase of 2%. This month's total units sold was higher than at this time last year, an increase of 10% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 288 units or 21%. The total number of active inventory this October was 1,052 compared to 1,340 in October 2016. This month's total of 1,052 is lower than the previous month's total supply of available inventory of 1,160, a decrease of 9%.

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Median Sale Price
Last October, the median sale price for Harford County Homes was $265,750. This October, the median sale price was $245,000, a decrease of 8% or $20,750 compared to last year. The current median sold price is 6% higher than in September.

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
420
Current Contracts
343
Sold Vs. List Price
99.0%
Months of Supply
3.4
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 2%
Vs. Year Ago
Up 23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -28%
Vs. Year Ago

Months of Supply
In October, there was 3.4 months of supply available in Harford County, compared to 4.8 in October 2016. That is a decrease of 28% 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 420 homes newly listed for sale in Harford County compared to 411 in October 2016, an increase of 2%. There were 343 current contracts pending sale this October compared to 278 a year ago. The number of current contracts is 23% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Harford County was 99.0% 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 49, lower than the average last year, which was 62, a decrease of 21%.

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The Long & Foster Market Minute
*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.