The Long & Foster Market Minute

Focus On: Odenton and Fort Meade Housing Market May 2018

Zip Code(s): 21113 and 20755
Units Sold
73
Active Inventory
151
Median Sale Price
$303,500
Days On Market
25
Down -1%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 73 sold this month in Odenton and Fort Meade Real Estate versus 58 last month, an increase of 26%. This month's total units sold was lower than at this time last year, a decrease of 1% versus May 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 13%. The total number of active inventory this May was 151 compared to 134 in May 2017. This month's total of 151 is higher than the previous month's total supply of available inventory of 132, an increase of 14%.

Median Sale Price
Last May, the median sale price for Odenton and Fort Meade Homes was $306,000. This May, the median sale price was $303,500, a decrease of 1% or $2,500 compared to last year. The current median sold price is 1% higher 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
100
Current Contracts
61
Sold Vs. List Price
98.9%
Months of Supply
2.1
Up 22%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago
Up 14%
Vs. Year Ago

Months of Supply
In May, there was 2.1 months of supply available in Odenton and Fort Meade, compared to 1.8 in May 2017. That is an increase 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.

New Listings & Current Contracts
This month there were 100 homes newly listed for sale in Odenton and Fort Meade compared to 82 in May 2017, an increase of 22%. There were 61 current contracts pending sale this May compared to 57 a year ago. The number of current contracts is 7% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Odenton and Fort Meade was 98.9% 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 25, lower than the average last year, which was 32, a decrease of 22%.

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.