The Long & Foster Market Minute

Focus On: Millersville and Severn Housing Market April 2019

Zip Code(s): 21144 and 21108
Units Sold
73
Active Inventory
199
Median Sale Price
$361,125
Days On Market
43
Down -5%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -9%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 73 sold this month in Millersville and Severn Real Estate versus 81 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 5% versus April 2018.

Active Inventory
Versus last year, the total number of homes available this month is higher by 6 units or 3%. The total number of active inventory this April was 199 compared to 193 in April 2018. This month's total of 199 is lower than the previous month's total supply of available inventory of 208, a decrease of 4%.

Median Sale Price
Last April, the median sale price for Millersville and Severn Homes was $395,345. This April, the median sale price was $361,125, a decrease of 9% or $34,220 compared to last year. The current median sold price is 5% lower than in March.

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


New Listings
137
Current Contracts
106
Sold Vs. List Price
99.7%
Months of Supply
2.7
Down -2%
Vs. Year Ago
Up 3%
Vs. Year Ago
No Change
Vs. Year Ago
Up 9%
Vs. Year Ago

Months of Supply
In April, there was 2.7 months of supply available in Millersville and Severn, compared to 2.5 in April 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 137 homes newly listed for sale in Millersville and Severn compared to 140 in April 2018, a decrease of 2%. There were 106 current contracts pending sale this April compared to 103 a year ago. The number of current contracts is 3% higher than last April.

Sale Price to List Price Ratio
In April, 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 43, lower than the average last year, which was 45, a decrease of 4%.

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.