The Long & Foster Market Minute

Focus On: Bel Air Housing Market June 2020

Zip Code(s): 21014 and 21015
Units Sold
114
Active Inventory
110
Median Sale Price
$360,000
Days On Market
34
Down -30%
Vs. Year Ago
Down -57%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 48%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 114 sold this month in Bel Air Real Estate versus 92 last month, an increase of 24%. This month's total units sold was lower than at this time last year, a decrease of 30% versus June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 144 units or 57%. The total number of active inventory this June was 110 compared to 254 in June 2019. This month's total of 110 is lower than the previous month's total supply of available inventory of 128, a decrease of 14%.

Median Sale Price
Last June, the median sale price for Bel Air Homes was $350,000. This June, the median sale price was $360,000, an increase of 3% or $10,000 compared to last year. The current median sold price is 1% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
138
Current Contracts
132
Sold Vs. List Price
99.1%
Months of Supply
1.0
Down -17%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In June, there was 1.0 months of supply available in Bel Air, compared to 1.6 in June 2019. That is a decrease of 38% 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 138 homes newly listed for sale in Bel Air compared to 167 in June 2019, a decrease of 17%. There were 132 current contracts pending sale this June compared to 129 a year ago. The number of current contracts is 2% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Bel Air was 99.1% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 34, higher than the average last year, which was 23, an increase of 48%.

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 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.