The Long & Foster Market Minute

Focus On: Arnold and Broadneck Housing Market October 2023

Zip Code(s): 21409 and 21012
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -17%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 24%
Vs. Year Ago
Up 33%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 38 sold this month in Arnold and Broadneck Real Estate versus 39 last month, a decrease of 3%. This month's total units sold was lower than at this time last year, a decrease of 17% versus October 2022.

Active Inventory
Versus last year, the total number of homes available this month is lower by 7 units or 11%. The total number of active inventory this October was 56 compared to 63 in October 2022. This month's total of 56 is lower than the previous month's total supply of available inventory of 59, a decrease of 5%.

Median Sale Price
Last October, the median sale price for Arnold and Broadneck Homes was $477,500. This October, the median sale price was $590,000, an increase of 24% or $112,500 compared to last year. The current median sold price is 16% 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.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -32%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 3.1%
Vs. Year Ago
Up 7%
Vs. Year Ago

Months of Supply
In October, there was 1.5 months of supply available in Arnold and Broadneck, compared to 1.4 in October 2022. That is an increase of 8% 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.

New Listings & Current Contracts
This month there were 34 homes newly listed for sale in Arnold and Broadneck compared to 50 in October 2022, a decrease of 32%. There were 29 current contracts pending sale this October compared to 43 a year ago. The number of current contracts is 33% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Arnold and Broadneck was 100.4% of the average list price, which is 3.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 32, higher than the average last year, which was 24, an increase of 33%.

The Long & Foster Market Minute Arnold and Broadneck are defined as properties listed in zip code/s 21409 and 21012.
*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.