The Long & Foster Market Minute

Focus On: Anne Arundel County Housing Market August 2017

Units Sold
844
Active Inventory
2,653
Median Sale Price
$330,750
Days On Market
46
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Down -5%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 5%
Vs. Year Ago
Down -4%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 844 sold this month in Anne Arundel County Real Estate versus 827 last month, an increase of 2%. This month's total units sold was lower than at this time last year, a decrease of 5% versus August 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 522 units or 16%. The total number of active inventory this August was 2,653 compared to 3,175 in August 2016. This month's total of 2,653 is lower than the previous month's total supply of available inventory of 2,812, a decrease of 6%.

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Median Sale Price
Last August, the median sale price for Anne Arundel County Homes was $314,900. This August, the median sale price was $330,750, an increase of 5% or $15,850 compared to last year. The current median sold price is 1% 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.

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New Listings
1,052
Current Contracts
833
Sold Vs. List Price
98.0%
Months of Supply
3.1
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Down -1%
Vs. Year Ago
Up 2%
Vs. Year Ago
No Change
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In August, there was 3.1 months of supply available in Anne Arundel County, compared to 3.6 in August 2016. That is a decrease of 12% 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.

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New Listings & Current Contracts
This month there were 1,052 homes newly listed for sale in Anne Arundel County compared to 1,061 in August 2016, a decrease of 1%. There were 833 current contracts pending sale this August compared to 814 a year ago. The number of current contracts remained stable as compared to last August.

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Sale Price to List Price Ratio
In August, the average sale price in Anne Arundel County was 98.0% of the average list price, which is similar compared to a year ago.

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Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 48, a decrease of 4%.

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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.