The Long & Foster Market Minute

Focus On: Bel Air Housing Market January 2019

Zip Code(s): 21014 and 21015
Units Sold
63
Active Inventory
173
Median Sale Price
$274,000
Days On Market
51
Down -14%
Vs. Year Ago
Down -2%
Vs. Year Ago
Up 12%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 63 sold this month in Bel Air Real Estate versus 69 last month, a decrease of 9%. This month's total units sold was lower than at this time last year, a decrease of 14% versus January 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 3 units or 2%. The total number of active inventory this January was 173 compared to 176 in January 2018. This month's total of 173 is lower than the previous month's total supply of available inventory of 182, a decrease of 5%.

Median Sale Price
Last January, the median sale price for Bel Air Homes was $244,900. This January, the median sale price was $274,000, an increase of 12% or $29,100 compared to last year. The current median sold price is 2% lower than in December.

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


New Listings
109
Current Contracts
74
Sold Vs. List Price
98.8%
Months of Supply
2.7
Up 27%
Vs. Year Ago
Down -6%
Vs. Year Ago
No Change
Vs. Year Ago
Up 14%
Vs. Year Ago

Months of Supply
In January, there was 2.7 months of supply available in Bel Air, compared to 2.4 in January 2018. That is an increase of 14% 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 109 homes newly listed for sale in Bel Air compared to 86 in January 2018, an increase of 27%. There were 74 current contracts pending sale this January compared to 79 a year ago. The number of current contracts is 6% lower than last January.

Sale Price to List Price Ratio
In January, 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 51, lower than the average last year, which was 64, a decrease of 20%.

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.