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| MAY 2025 | |||
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| Zip Code(s): 20024 | |||
| Units Sold 11 |
Active Inventory 115 |
Median Sale Price $740,000 |
Days On Market 105 |
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| Down Vs. Year Ago |
Down -3% Vs. Year Ago |
Up Vs. Year Ago |
Down -1% Vs. Year Ago |
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Units Sold
With relatively few transactions, there was a decrease in total units sold in May, with 11 sold this month in Southwest and Waterfront Real Estate. This month's total units sold was lower than at this time last year, a decrease from May 2024. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 4 units or 3%. The total number of active inventory this May was 115 compared to 119 in May 2024. This month's total of 115 is lower than the previous month's total supply of available inventory of 117, a decrease of 2%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Southwest and Waterfront Homes was $405,000. This May, the median sale price was $740,000, an increase of $335,000 compared to last year. The current median sold price is higher than in April. 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 28 |
Current Contracts 14 |
Sold Vs. List Price 98.8% |
Months of Supply 10.5 |
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| Down -26% Vs. Year Ago |
Down -22% Vs. Year Ago |
Up 4.9% Vs. Year Ago |
Up 23% Vs. Year Ago |
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Months of Supply
In May, there was 10.5 months of supply available in Southwest and Waterfront, compared to 8.5 in May 2024. That is an increase of 23% 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 28 homes newly listed for sale in Southwest and Waterfront compared to 38 in May 2024, a decrease of 26%. There were 14 current contracts pending sale this May compared to 18 a year ago. The number of current contracts is 22% lower than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Southwest and Waterfront was 98.8% of the average list price, which is 4.6% higher than at this time last year. Days on Market
This month, the average number of days on market was 105, lower than the average last year, which was 106, a decrease of 1%. | |||
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Southwest and Waterfront are defined as properties in zip code 20024. | ||
| *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. | |||
 Information 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. |
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