MILLERSVILLE AND SEVERN HOUSING MARKET DATA

There was an increase in total units sold in January, with 43 sold this month in Millersville and Severn Real Estate. This month's total units sold was higher than at this time last year.

Versus last year, the total number of homes available this month is lower by 4 units or 9%. The total number of active inventory this January was 39 compared to 43 in January 2024. This month's total of 39 is lower than the previous month's total supply of available inventory of 51, a decrease of 24%.

Last January, the median sale price for Millersville and Severn Homes was $527,000. This January, the median sale price was $480,000, a decrease of 9% or $47,000 compared to last year. The current median sold price is 12% lower than in December.

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

In January, there was 0.9 months of supply available in Millersville and Severn, compared to 1.4 in January 2024. That is a decrease of 35% 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 30 homes newly listed for sale in Millersville and Severn compared to 43 in January 2024, a decrease of 30%. There were 38 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 14% lower than last month.

In January, the average sale price in Millersville and Severn was 99.7% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 25, lower than the average last year, which was 39, a decrease of 36%.





FOCUS ON: MILLERSVILLE AND SEVERN HOUSING MARKET			JANUARY 2025

Zip Code(s): 21144 and 21108
Units Sold 43	Active Inventory 39	Median Sale Price $480,000	Days On Market 25

Up Vs. Year Ago	Down -9% Vs. Year Ago	Down -9% Vs. Year Ago	Down -36% Vs. Year Ago


		Units Sold There was an increase in total units sold in January, with 43 sold this month in Millersville and Severn Real Estate. This month's total units sold was higher than at this time last year.
Active Inventory Versus last year, the total number of homes available this month is lower by 4 units or 9%. The total number of active inventory this January was 39 compared to 43 in January 2024. This month's total of 39 is lower than the previous month's total supply of available inventory of 51, a decrease of 24%.
		Median Sale Price Last January, the median sale price for Millersville and Severn Homes was $527,000. This January, the median sale price was $480,000, a decrease of 9% or $47,000 compared to last year. The current median sold price is 12% lower than in December. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 30	Current Contracts 38	Sold Vs. List Price 99.7%	Months of Supply 0.9

Down -30% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago	Down -35% Vs. Year Ago


		Months of Supply In January, there was 0.9 months of supply available in Millersville and Severn, compared to 1.4 in January 2024. That is a decrease of 35% 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 30 homes newly listed for sale in Millersville and Severn compared to 43 in January 2024, a decrease of 30%. There were 38 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 14% lower than last month.
		Sale Price to List Price Ratio In January, the average sale price in Millersville and Severn was 99.7% 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 25, lower than the average last year, which was 39, a decrease of 36%.


	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.