The Long & Foster Market Minute

Focus On: Harford County Housing Market August 2018

Units Sold
398
Active Inventory
984
Median Sale Price
$265,250
Days On Market
34
Up 7%
Vs. Year Ago
Down -15%
Vs. Year Ago
No Change
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 398 sold this month in Harford County Real Estate versus 396 last month, an increase of 1%. This month's total units sold was higher than at this time last year, an increase of 7% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 172 units or 15%. The total number of active inventory this August was 984 compared to 1,156 in August 2017. This month's total of 984 is higher than the previous month's total supply of available inventory of 970, an increase of 1%.

Median Sale Price
Last August, the median sale price for Harford County Homes was $265,000. This August, the median sale price was approximately the same at $265,250. The current median sold price is also similar to the median price 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
512
Current Contracts
352
Sold Vs. List Price
98.6%
Months of Supply
2.5
Up 12%
Vs. Year Ago
Up 5%
Vs. Year Ago
No Change
Vs. Year Ago
Down -21%
Vs. Year Ago

Months of Supply
In August, there was 2.5 months of supply available in Harford County, compared to 3.1 in August 2017. That is a decrease of 21% 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 512 homes newly listed for sale in Harford County compared to 459 in August 2017, an increase of 12%. There were 352 current contracts pending sale this August compared to 335 a year ago. The number of current contracts is 5% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Harford County was 98.6% 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 34, lower than the average last year, which was 55, a decrease of 38%.

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.