The Long & Foster Market Minute

Focus On: Bel Air Housing Market September 2019

Zip Code(s): 21014 and 21015
Units Sold
92
Active Inventory
214
Median Sale Price
$326,000
Days On Market
35
Up 28%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 14%
Vs. Year Ago
Up 35%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 92 sold this month in Bel Air Real Estate versus 122 last month, a decrease of 25%. This month's total units sold was higher than at this time last year, an increase of 28% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 38 units or 15%. The total number of active inventory this September was 214 compared to 252 in September 2018. This month's total of 214 is lower than the previous month's total supply of available inventory of 244, a decrease of 12%.

Median Sale Price
Last September, the median sale price for Bel Air Homes was $286,000. This September, the median sale price was $326,000, an increase of 14% or $40,000 compared to last year. The current median sold price is 4% lower than in August.

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


New Listings
140
Current Contracts
120
Sold Vs. List Price
99.2%
Months of Supply
2.3
Up 39%
Vs. Year Ago
Up 85%
Vs. Year Ago
Down -0.6%
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In September, there was 2.3 months of supply available in Bel Air, compared to 3.5 in September 2018. That is a decrease of 34% 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 140 homes newly listed for sale in Bel Air compared to 101 in September 2018, an increase of 39%. There were 120 current contracts pending sale this September compared to 65 a year ago. The number of current contracts is 85% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Bel Air was 99.2% 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 35, higher than the average last year, which was 26, an increase of 35%.

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.