The Long & Foster Market Minute

Focus On: Bel Air Housing Market July 2019

Zip Code(s): 21014 and 21015
Units Sold
157
Active Inventory
220
Median Sale Price
$355,000
Days On Market
29
Up
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 15%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 157 sold this month in Bel Air Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 7 units or 3%. The total number of active inventory this July was 220 compared to 213 in July 2018. This month's total of 220 is lower than the previous month's total supply of available inventory of 251, a decrease of 12%.

Median Sale Price
Last July, the median sale price for Bel Air Homes was $308,000. This July, the median sale price was $355,000, an increase of 15% or $47,000 compared to last year. The current median sold price is 1% higher 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
158
Current Contracts
135
Sold Vs. List Price
99.6%
Months of Supply
1.4
Up 20%
Vs. Year Ago
Up 41%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -25%
Vs. Year Ago

Months of Supply
In July, there was 1.4 months of supply available in Bel Air, compared to 1.9 in July 2018. That is a decrease of 25% 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 158 homes newly listed for sale in Bel Air compared to 132 in July 2018, an increase of 20%. There were 135 current contracts pending sale this July compared to 96 a year ago. The number of current contracts is 41% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Bel Air was 99.6% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 29, which is similar compared to a year ago.

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.