The Long & Foster Market Minute

Focus On: Millersville and Severn Housing Market June 2019

Zip Code(s): 21144 and 21108
Units Sold
86
Active Inventory
210
Median Sale Price
$407,500
Days On Market
37
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 12%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 86 sold this month in Millersville and Severn Real Estate, a decrease of 5%. 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 25 units or 11%. The total number of active inventory this June was 210 compared to 235 in June 2018. This month's total of 210 is lower than the previous month's total supply of available inventory of 224, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Millersville and Severn Homes was $410,992. This June, the median sale price was $407,500, a decrease of 1% or $3,492 compared to last year. The current median sold price is 4% lower than in May.

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


New Listings
122
Current Contracts
98
Sold Vs. List Price
99.7%
Months of Supply
2.4
Down -5%
Vs. Year Ago
Up 20%
Vs. Year Ago
No Change
Vs. Year Ago
Down -11%
Vs. Year Ago

Months of Supply
In June, there was 2.4 months of supply available in Millersville and Severn, compared to 2.7 in June 2018. That is a decrease of 11% 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 122 homes newly listed for sale in Millersville and Severn compared to 129 in June 2018, a decrease of 5%. There were 98 current contracts pending sale this June compared to 82 a year ago. The number of current contracts is 20% higher than last June.

Sale Price to List Price Ratio
In June, 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 37, higher than the average last year, which was 33, an increase of 12%.

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.