Millersville and Severn Housing Market Data

There was a decrease in total units sold in August, with 80 sold this month in Millersville and Severn Real Estate, a decrease of 29%. This month's total units sold is similar compared to a year ago.

Versus last year, the total number of homes available this month is lower by 61 units or 24%. The total number of active inventory this August was 188 compared to 249 in August 2018. This month's total of 188 is lower than the previous month's total supply of available inventory of 224, a decrease of 16%.

Last August, the median sale price for Millersville and Severn Homes was $395,148. This August, the median sale price was $397,000, which is similar compared to a year ago. The current median sold price is 1% higher than in July.

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

In August, there was 2.4 months of supply available in Millersville and Severn, compared to 3.1 in August 2018. That is a decrease of 24% 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 127 homes newly listed for sale in Millersville and Severn compared to 133 in August 2018, a decrease of 5%. There were 107 current contracts pending sale this August compared to 78 a year ago. The number of current contracts is 37% higher than last August.

In August, the average sale price in Millersville and Severn was 99.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 41, which is similar compared to a year ago.





Focus On: Millersville and Severn Housing Market			August 2019

Zip Code(s): 21144 and 21108
Units Sold 80	Active Inventory 188	Median Sale Price $397,000	Days On Market 41

No Change Vs. Year Ago	Down -24% Vs. Year Ago	No Change Vs. Year Ago	No Change Vs. Year Ago


		Units Sold There was a decrease in total units sold in August, with 80 sold this month in Millersville and Severn Real Estate, a decrease of 29%. This month's total units sold is similar compared to a year ago.
Active Inventory Versus last year, the total number of homes available this month is lower by 61 units or 24%. The total number of active inventory this August was 188 compared to 249 in August 2018. This month's total of 188 is lower than the previous month's total supply of available inventory of 224, a decrease of 16%.
		Median Sale Price Last August, the median sale price for Millersville and Severn Homes was $395,148. This August, the median sale price was $397,000, which is similar compared to a year ago. The current median sold price is 1% higher than 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 127	Current Contracts 107	Sold Vs. List Price 99.2%	Months of Supply 2.4

Down -5% Vs. Year Ago	Up 37% Vs. Year Ago	No Change Vs. Year Ago	Down -24% Vs. Year Ago


		Months of Supply In August, there was 2.4 months of supply available in Millersville and Severn, compared to 3.1 in August 2018. That is a decrease of 24% 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 127 homes newly listed for sale in Millersville and Severn compared to 133 in August 2018, a decrease of 5%. There were 107 current contracts pending sale this August compared to 78 a year ago. The number of current contracts is 37% higher than last August.
		Sale Price to List Price Ratio In August, the average sale price in Millersville and Severn was 99.2% 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 41, which is similar compared to a year ago.


	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.