The Long & Foster Market Minute

Focus On: Arnold and Broadneck Housing Market October 2022

Zip Code(s): 21409 and 21012
Units Sold
46
Active Inventory
63
Median Sale Price
$477,500
Days On Market
24
Down
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 46 sold this month in Arnold and Broadneck Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 4 units or 6%. The total number of active inventory this October was 63 compared to 67 in October 2021. This month's total of 63 is lower than the previous month's total supply of available inventory of 68, a decrease of 7%.

Median Sale Price
Last October, the median sale price for Arnold and Broadneck Homes was $458,206. This October, the median sale price was $477,500, an increase of 4% or $19,294 compared to last year. The current median sold price is 10% lower 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
50
Current Contracts
43
Sold Vs. List Price
97.3%
Months of Supply
1.4
Down -30%
Vs. Year Ago
Down -44%
Vs. Year Ago
Down -2.5%
Vs. Year Ago
Up 51%
Vs. Year Ago

Months of Supply
In October, there was 1.4 months of supply available in Arnold and Broadneck, compared to 0.9 in October 2021. That is an increase of 51% 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 50 homes newly listed for sale in Arnold and Broadneck compared to 71 in October 2021, a decrease of 30%. There were 43 current contracts pending sale this October compared to 77 a year ago. The number of current contracts is 44% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Arnold and Broadneck was 97.3% of the average list price, which is 2.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 24, higher than the average last year, which was 20, an increase of 20%.

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.