The Long & Foster Market Minute

FOCUS ON: LAUREL HOUSING MARKET JUNE 2024

Zip Code(s): 20707, 20708, 20723 and 20724
Units Sold
111
Active Inventory
135
Median Sale Price
$537,500
Days On Market
13
Down -13%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 18%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 111 sold this month in Laurel Real Estate versus 128 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 13% versus June 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 6%. The total number of active inventory this June was 135 compared to 144 in June 2023. This month's total of 135 is lower than the previous month's total supply of available inventory of 146, a decrease of 8%.

Median Sale Price
Last June, the median sale price for Laurel Homes was $506,095. This June, the median sale price was approximately the same at $537,500. The current median sold price is 6% higher than in June 2023.

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


New Listings
133
Current Contracts
109
Sold Vs. List Price
101.7%
Months of Supply
1.2
Down -1%
Vs. Year Ago
Down -3%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In June, there was 1.2 months of supply available in Laurel. The amount of supply is similar compared to 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 133 homes newly listed for sale in Laurel compared to 135 in June 2023, a decrease of 1%. There were 109 current contracts pending sale this June compared to 112 a year ago. The number of current contracts is 3% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Laurel was 101.7% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 13, higher than the average last year, which was 11, an increase of 18%.

The Long & Foster Market Minute Laurel are defined as properties listed in zip code/s 20707, 20708, 20723 and 20724.
*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.