The Long & Foster Market Minute

Focus On: Bel Air Housing Market July 2018

Zip Code(s): 21014 and 21015
Units Sold
112
Active Inventory
211
Median Sale Price
$308,250
Days On Market
27
Up 6%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 16%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 112 sold this month in Bel Air Real Estate versus 122 last month, a decrease of 8%. This month's total units sold was higher than at this time last year, an increase of 6% versus July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 70 units or 25%. The total number of active inventory this July was 211 compared to 281 in July 2017. This month's total of 211 is higher than the previous month's total supply of available inventory of 208, an increase of 1%.

Median Sale Price
Last July, the median sale price for Bel Air Homes was $265,000. This July, the median sale price was $308,250, an increase of 16% or $43,250 compared to last year. The current median sold price is 11% lower than in June.

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
100
Sold Vs. List Price
98.8%
Months of Supply
1.9
Down -24%
Vs. Year Ago
Down -12%
Vs. Year Ago
No Change
Vs. Year Ago
Down -29%
Vs. Year Ago

Months of Supply
In July, there was 1.9 months of supply available in Bel Air, compared to 2.7 in July 2017. That is a decrease of 29% 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 133 homes newly listed for sale in Bel Air compared to 174 in July 2017, a decrease of 24%. There were 100 current contracts pending sale this July compared to 113 a year ago. The number of current contracts is 12% lower than last July.

Sale Price to List Price Ratio
In July, the average sale price in Bel Air was 98.8% 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 27, lower than the average last year, which was 40, a decrease of 33%.

The Long & Foster Market Minute Bel Air are defined as properties listed in zip code/s 21014 and 21015.
*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.