The Long & Foster Market Minute

Focus On: Millersville and Severn Housing Market December 2019

Zip Code(s): 21144 and 21108
Units Sold
72
Active Inventory
144
Median Sale Price
$372,000
Days On Market
31
Down -3%
Vs. Year Ago
Down -41%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -45%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 72 sold this month in Millersville and Severn Real Estate versus 63 last month, an increase of 14%. This month's total units sold was lower than at this time last year, a decrease of 3% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 100 units or 41%. The total number of active inventory this December was 144 compared to 244 in December 2018. This month's total of 144 is lower than the previous month's total supply of available inventory of 200, a decrease of 28%.

Median Sale Price
Last December, the median sale price for Millersville and Severn Homes was $375,000. This December, the median sale price was $372,000, a decrease of 1% or $3,000 compared to last year. The current median sold price is 4% lower than in November.

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


New Listings
64
Current Contracts
47
Sold Vs. List Price
99.6%
Months of Supply
2.0
Down -9%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In December, there was 2.0 months of supply available in Millersville and Severn, compared to 3.3 in December 2018. That is a decrease of 39% 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 64 homes newly listed for sale in Millersville and Severn compared to 70 in December 2018, a decrease of 9%. There were 47 current contracts pending sale this December compared to 48 a year ago. The number of current contracts is 2% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Millersville and Severn was 99.6% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 31, lower than the average last year, which was 56, a decrease of 45%.

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.