The Long & Foster Market Minute

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%.

The Long & Foster Market Minute 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.
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.