The Long & Foster Market Minute

Focus On: Anne Arundel County Housing Market October 2017

Units Sold
773
Active Inventory
2,544
Median Sale Price
$326,500
Days On Market
54
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up 5%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 1%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in October, with 773 sold this month in Anne Arundel County Real Estate versus 744 last month, an increase of 4%. This month's total units sold was higher than at this time last year, an increase of 5% versus October 2016.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 470 units or 16%. The total number of active inventory this October was 2,544 compared to 3,014 in October 2016. This month's total of 2,544 is lower than the previous month's total supply of available inventory of 2,769, a decrease of 8%.

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Median Sale Price
Last October, the median sale price for Anne Arundel County Homes was $322,500. This October, the median sale price was $326,500, an increase of 1% or $4,000 compared to last year. The current median sold price is 4% higher than in September.

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
974
Current Contracts
788
Sold Vs. List Price
98.1%
Months of Supply
3.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 1%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In October, there was 3.3 months of supply available in Anne Arundel County, compared to 4.1 in October 2016. That is a decrease of 20% 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 974 homes newly listed for sale in Anne Arundel County compared to 964 in October 2016, an increase of 1%. There were 788 current contracts pending sale this October compared to 719 a year ago. The number of current contracts is 10% higher than last October.

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Sale Price to List Price Ratio
In October, the average sale price in Anne Arundel County was 98.1% of the average list price, which is 1.0% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 54, lower than the average last year, which was 58, a decrease of 7%.

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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.