Millersville and Severn Housing Market Data

There was an increase in total units sold in May, with 73 sold this month in Millersville and Severn Real Estate versus 71 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 20% versus May 2019.

Versus last year, the total number of homes available this month is lower by 120 units or 52%. The total number of active inventory this May was 111 compared to 231 in May 2019. This month's total of 111 is lower than the previous month's total supply of available inventory of 117, a decrease of 5%.

Last May, the median sale price for Millersville and Severn Homes was $422,900. This May, the median sale price was $365,000, a decrease of 14% or $57,900 compared to last year. The current median sold price is 17% lower than in April.

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

In May, there was 1.5 months of supply available in Millersville and Severn, compared to 2.5 in May 2019. That is a decrease of 40% 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 110 homes newly listed for sale in Millersville and Severn compared to 143 in May 2019, a decrease of 23%. There were 100 current contracts pending sale this May compared to 112 a year ago. The number of current contracts is 11% lower than last May.

In May, the average sale price in Millersville and Severn was 99.8% of the average list price, which is 0.5% higher than at this time last year.

This month, the average number of days on market was 29, lower than the average last year, which was 49, a decrease of 41%.





Focus On: Millersville and Severn Housing Market			May 2020

Zip Code(s): 21144 and 21108
Units Sold 73	Active Inventory 111	Median Sale Price $365,000	Days On Market 29

Down -20% Vs. Year Ago	Down -52% Vs. Year Ago	Down -14% Vs. Year Ago	Down -41% Vs. Year Ago


		Units Sold There was an increase in total units sold in May, with 73 sold this month in Millersville and Severn Real Estate versus 71 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 20% versus May 2019.
Active Inventory Versus last year, the total number of homes available this month is lower by 120 units or 52%. The total number of active inventory this May was 111 compared to 231 in May 2019. This month's total of 111 is lower than the previous month's total supply of available inventory of 117, a decrease of 5%.
		Median Sale Price Last May, the median sale price for Millersville and Severn Homes was $422,900. This May, the median sale price was $365,000, a decrease of 14% or $57,900 compared to last year. The current median sold price is 17% lower than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 110	Current Contracts 100	Sold Vs. List Price 99.8%	Months of Supply 1.5

Down -23% Vs. Year Ago	Down -11% Vs. Year Ago	Up 0.5% Vs. Year Ago	Down -40% Vs. Year Ago


		Months of Supply In May, there was 1.5 months of supply available in Millersville and Severn, compared to 2.5 in May 2019. That is a decrease of 40% 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 110 homes newly listed for sale in Millersville and Severn compared to 143 in May 2019, a decrease of 23%. There were 100 current contracts pending sale this May compared to 112 a year ago. The number of current contracts is 11% lower than last May.
		Sale Price to List Price Ratio In May, the average sale price in Millersville and Severn was 99.8% of the average list price, which is 0.5% higher than at this time last year. Days on Market This month, the average number of days on market was 29, lower than the average last year, which was 49, a decrease of 41%.


	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.