The Long & Foster Market Minute

Focus On: Bel Air Housing Market March 2019

Zip Code(s): 21014 and 21015
Units Sold
88
Active Inventory
193
Median Sale Price
$302,500
Days On Market
40
Down -10%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 3%
Vs. Year Ago
Down -33%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 88 sold this month in Bel Air 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 higher by 23 units or 14%. The total number of active inventory this March was 193 compared to 170 in March 2018. This month's total of 193 is higher than the previous month's total supply of available inventory of 184, an increase of 5%.

Median Sale Price
Last March, the median sale price for Bel Air Homes was $292,450. This March, the median sale price was $302,500, an increase of 3% or $10,050 compared to last year. The current median sold price is 2% higher than in February.

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


New Listings
172
Current Contracts
116
Sold Vs. List Price
98.7%
Months of Supply
2.2
Up 35%
Vs. Year Ago
Up 21%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Up 27%
Vs. Year Ago

Months of Supply
In March, there was 2.2 months of supply available in Bel Air, compared to 1.7 in March 2018. That is an increase of 26% 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 172 homes newly listed for sale in Bel Air compared to 127 in March 2018, an increase of 35%. There were 116 current contracts pending sale this March compared to 96 a year ago. The number of current contracts is 21% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bel Air was 98.7% of the average list price, which is 0.6% lower than at this time last year.

Days on Market
This month, the average number of days on market was 40, lower than the average last year, which was 60, 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 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.