The Long & Foster Market Minute

Focus On: Anne Arundel County Housing Market August 2018

Units Sold
918
Active Inventory
2,625
Median Sale Price
$350,000
Days On Market
44
Up 5%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in August, with 918 sold this month in Anne Arundel County Real Estate versus 937 last month, a decrease of 2%. This month's total units sold was higher than at this time last year, an increase of 5% versus August 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 238 units or 8%. The total number of active inventory this August was 2,625 compared to 2,863 in August 2017. This month's total of 2,625 is lower than the previous month's total supply of available inventory of 2,782, a decrease of 6%.

Median Sale Price
Last August, the median sale price for Anne Arundel County Homes was $332,000. This August, the median sale price was approximately the same at $350,000. The current median sold price is 5% higher than in August 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
1,162
Current Contracts
869
Sold Vs. List Price
96.7%
Months of Supply
2.9
Up 9%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
Down -13%
Vs. Year Ago

Months of Supply
In August, there was 2.9 months of supply available in Anne Arundel County, compared to 3.3 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 1,162 homes newly listed for sale in Anne Arundel County compared to 1,064 in August 2017, an increase of 9%. There were 869 current contracts pending sale this August compared to 769 a year ago. The number of current contracts is 13% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Anne Arundel County was 96.7% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 44, lower than the average last year, which was 46, a decrease of 4%.

The Long & Foster Market Minute
*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.