The Long & Foster Market Minute

Focus On: Odenton and Fort Meade Housing Market August 2020

Zip Code(s): 21113 and 20755
Units Sold
91
Active Inventory
86
Median Sale Price
$369,000
Days On Market
26
Up 10%
Vs. Year Ago
Down -46%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 91 sold this month in Odenton and Fort Meade Real Estate versus 92 last month, a decrease of 1%. This month's total units sold was higher than at this time last year, an increase of 10% versus August 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 74 units or 46%. The total number of active inventory this August was 86 compared to 160 in August 2019. This month's total of 86 is lower than the previous month's total supply of available inventory of 122, a decrease of 30%.

Median Sale Price
Last August, the median sale price for Odenton and Fort Meade Homes was $315,000. This August, the median sale price was $369,000, an increase of 17% or $54,000 compared to last year. The current median sold price is 7% 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
97
Current Contracts
115
Sold Vs. List Price
99.8%
Months of Supply
0.9
Down -6%
Vs. Year Ago
Up 77%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In August, there was 0.9 months of supply available in Odenton and Fort Meade, compared to 1.9 in August 2019. That is a decrease of 51% 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 97 homes newly listed for sale in Odenton and Fort Meade compared to 103 in August 2019, a decrease of 6%. There were 115 current contracts pending sale this August compared to 65 a year ago. The number of current contracts is 77% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Odenton and Fort Meade 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 26, lower than the average last year, which was 37, a decrease of 30%.

The Long & Foster Market Minute Odenton and Fort Meade are defined as properties listed in zip code/s 21113 and 20755.
*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.