The Long & Foster Market Minute

Focus On: Odenton and Fort Meade Housing Market October 2018

Zip Code(s): 21113 and 20755
Units Sold
45
Active Inventory
172
Median Sale Price
$305,000
Days On Market
55
Down -20%
Vs. Year Ago
Up 52%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 45 sold this month in Odenton and Fort Meade Real Estate versus 52 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 20% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is higher by 59 units or 52%. The total number of active inventory this October was 172 compared to 113 in October 2017. This month's total of 172 is lower than the previous month's total supply of available inventory of 182, a decrease of 5%.

Median Sale Price
Last October, the median sale price for Odenton and Fort Meade Homes was $295,000. This October, the median sale price was approximately the same at $305,000. The current median sold price is 3% higher than in October 2017.

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


New Listings
70
Current Contracts
52
Sold Vs. List Price
100.0%
Months of Supply
3.8
Up 32%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Up 89%
Vs. Year Ago

Months of Supply
In October, there was 3.8 months of supply available in Odenton and Fort Meade, compared to 2.0 in October 2017. That is an increase of 89% 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 70 homes newly listed for sale in Odenton and Fort Meade compared to 53 in October 2017, an increase of 32%. There were 52 current contracts pending sale this October compared to 48 a year ago. The number of current contracts is 8% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Odenton and Fort Meade was 100.0% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 55, lower than the average last year, which was 67, a decrease of 18%.

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.