The Long & Foster Market Minute

Focus On: Odenton and Fort Meade Housing Market May 2020

Zip Code(s): 21113 and 20755
Units Sold
43
Active Inventory
103
Median Sale Price
$346,350
Days On Market
29
Down
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -19%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 43 sold this month in Odenton and Fort Meade Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 46 units or 31%. The total number of active inventory this May was 103 compared to 149 in May 2019. This month's total of 103 is lower than the previous month's total supply of available inventory of 119, a decrease of 13%.

Median Sale Price
Last May, the median sale price for Odenton and Fort Meade Homes was $325,000. This May, the median sale price was $346,350, an increase of 7% or $21,350 compared to last year. The current median sold price is 4% 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
90
Current Contracts
94
Sold Vs. List Price
99.7%
Months of Supply
2.4
Down -17%
Vs. Year Ago
Up 25%
Vs. Year Ago
No Change
Vs. Year Ago
Up 39%
Vs. Year Ago

Months of Supply
In May, there was 2.4 months of supply available in Odenton and Fort Meade, compared to 1.7 in May 2019. That is an increase of 38% 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 90 homes newly listed for sale in Odenton and Fort Meade compared to 108 in May 2019, a decrease of 17%. There were 94 current contracts pending sale this May compared to 75 a year ago. The number of current contracts is 25% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Odenton and Fort Meade 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 29, lower than the average last year, which was 36, a decrease of 19%.

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.