Millersville and Severn Housing Market Data

There was an increase in total units sold in February, with 46 sold this month in Millersville and Severn Real Estate versus 36 last month, an increase of 28%. This month's total units sold was lower than at this time last year, a decrease of 8% versus February 2018.

Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this February was 186 compared to 185 in February 2018. This month's total of 186 is lower than the previous month's total supply of available inventory of 193, a decrease of 4%.

Last February, the median sale price for Millersville and Severn Homes was $418,500. This February, the median sale price was $394,750, a decrease of 6% or $23,750 compared to last year. The current median sold price is 5% lower than in January.

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

In February, there was 4.0 months of supply available in Millersville and Severn, compared to 3.7 in February 2018. That is an increase of 9% 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.

This month there were 98 homes newly listed for sale in Millersville and Severn compared to 86 in February 2018, an increase of 14%. There were 74 current contracts pending sale this February compared to 46 a year ago. The number of current contracts is 61% higher than last February.

In February, the average sale price in Millersville and Severn was 100.6% of the average list price, which is 1.8% higher than at this time last year.

This month, the average number of days on market was 62, higher than the average last year, which was 52, an increase of 19%.





Focus On: Millersville and Severn Housing Market			February 2019

Zip Code(s): 21144 and 21108
Units Sold 46	Active Inventory 186	Median Sale Price $394,750	Days On Market 62

Down -8% Vs. Year Ago	Up 1% Vs. Year Ago	Down -6% Vs. Year Ago	Up 19% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 46 sold this month in Millersville and Severn Real Estate versus 36 last month, an increase of 28%. This month's total units sold was lower than at this time last year, a decrease of 8% versus February 2018.
Active Inventory Versus last year, the total number of homes available this month is higher by 1 units or 1%. The total number of active inventory this February was 186 compared to 185 in February 2018. This month's total of 186 is lower than the previous month's total supply of available inventory of 193, a decrease of 4%.
		Median Sale Price Last February, the median sale price for Millersville and Severn Homes was $418,500. This February, the median sale price was $394,750, a decrease of 6% or $23,750 compared to last year. The current median sold price is 5% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 98	Current Contracts 74	Sold Vs. List Price 100.6%	Months of Supply 4.0

Up 14% Vs. Year Ago	Up 61% Vs. Year Ago	Up 1.9% Vs. Year Ago	Up 9% Vs. Year Ago


		Months of Supply In February, there was 4.0 months of supply available in Millersville and Severn, compared to 3.7 in February 2018. That is an increase of 9% 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 98 homes newly listed for sale in Millersville and Severn compared to 86 in February 2018, an increase of 14%. There were 74 current contracts pending sale this February compared to 46 a year ago. The number of current contracts is 61% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Millersville and Severn was 100.6% of the average list price, which is 1.8% higher than at this time last year. Days on Market This month, the average number of days on market was 62, higher than the average last year, which was 52, an increase of 19%.


	Millersville and Severn are defined as properties listed in zip code/s 21144 and 21108.
	*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.
	Information 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.