The Long & Foster Market Minute

Focus On: Annapolis Housing Market October 2018

Zip Code(s): 21401, 21403, 21402 and 21405
Units Sold
92
Active Inventory
399
Median Sale Price
$430,000
Days On Market
73
Down -14%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 92 sold this month in Annapolis Real Estate versus 112 last month, a decrease of 18%. This month's total units sold was lower than at this time last year, a decrease of 14% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 56 units or 12%. The total number of active inventory this October was 399 compared to 455 in October 2017. This month's total of 399 is lower than the previous month's total supply of available inventory of 433, a decrease of 8%.

Median Sale Price
Last October, the median sale price for Annapolis Homes was $385,500. This October, the median sale price was approximately the same at $430,000. The current median sold price is 12% higher than in October 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
137
Current Contracts
108
Sold Vs. List Price
98.5%
Months of Supply
4.3
Up 12%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In October, there was 4.3 months of supply available in Annapolis. 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 137 homes newly listed for sale in Annapolis compared to 122 in October 2017, an increase of 12%. There were 108 current contracts pending sale this October compared to 98 a year ago. The number of current contracts is 10% higher than last October.

Sale Price to List Price Ratio
In October, the average sale price in Annapolis was 98.5% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 73, lower than the average last year, which was 75, a decrease of 3%.

The Long & Foster Market Minute Annapolis are defined as properties listed in zip code/s 21401, 21403, 21402 and 21405.
*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.