The Long & Foster Market Minute

Focus On: Odenton and Fort Meade Housing Market August 2018

Zip Code(s): 21113 and 20755
Units Sold
63
Active Inventory
167
Median Sale Price
$310,000
Days On Market
30
Up 29%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 63 sold this month in Odenton and Fort Meade Real Estate versus 58 last month, an increase of 9%. This month's total units sold was higher than at this time last year, an increase of 29% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 17 units or 11%. The total number of active inventory this August was 167 compared to 150 in August 2017. This month's total of 167 is lower than the previous month's total supply of available inventory of 181, a decrease of 8%.

Median Sale Price
Last August, the median sale price for Odenton and Fort Meade Homes was $275,000. This August, the median sale price was $310,000, an increase of 13% or $35,000 compared to last year. The current median sold price is 6% lower 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
88
Current Contracts
67
Sold Vs. List Price
100.4%
Months of Supply
2.7
Up 22%
Vs. Year Ago
Up 31%
Vs. Year Ago
Up 1.7%
Vs. Year Ago
Down -13%
Vs. Year Ago

Months of Supply
In August, there was 2.7 months of supply available in Odenton and Fort Meade, compared to 3.1 in August 2017. That is a decrease of 13% 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 88 homes newly listed for sale in Odenton and Fort Meade compared to 72 in August 2017, an increase of 22%. There were 67 current contracts pending sale this August compared to 51 a year ago. The number of current contracts is 31% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Odenton and Fort Meade was 100.4% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 30, lower than the average last year, which was 36, a decrease of 17%.

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.