The Long & Foster Market Minute

Focus On: Odenton and Fort Meade Housing Market November 2017

Zip Code(s): 21113 and 20755
Units Sold
49
Active Inventory
113
Median Sale Price
$310,000
Days On Market
49
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -8%
Vs. Year Ago
Down -20%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in November, with 49 sold this month in Odenton and Fort Meade Real Estate versus 57 last month, a decrease of 14%. This month's total units sold was lower than at this time last year, a decrease of 8% versus November 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 29 units or 20%. The total number of active inventory this November was 113 compared to 142 in November 2016. This month's total of 113 is lower than the previous month's total supply of available inventory of 116, a decrease of 3%.

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Median Sale Price
Last November, the median sale price for Odenton and Fort Meade Homes was $268,000. This November, the median sale price was $310,000, an increase of 16% or $42,000 compared to last year. The current median sold price is 5% higher than in October.

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

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New Listings
50
Current Contracts
39
Sold Vs. List Price
98.4%
Months of Supply
2.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -11%
Vs. Year Ago
Down -17%
Vs. Year Ago
No Change
Vs. Year Ago
Down -14%
Vs. Year Ago

Months of Supply
In November, there was 2.3 months of supply available in Odenton and Fort Meade, compared to 2.7 in November 2016. That is a decrease of 14% 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.

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New Listings & Current Contracts
This month there were 50 homes newly listed for sale in Odenton and Fort Meade compared to 56 in November 2016, a decrease of 11%. There were 39 current contracts pending sale this November compared to 47 a year ago. The number of current contracts is 17% lower than last November.

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Sale Price to List Price Ratio
In November, the average sale price in Odenton and Fort Meade was 98.4% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 49, lower than the average last year, which was 56, a decrease of 13%.

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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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.