The Long & Foster Market Minute

Focus On: Bel Air Housing Market September 2018

Zip Code(s): 21014 and 21015
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -6%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -38%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 66 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 lower by 76 units or 25%. The total number of active inventory this September was 231 compared to 307 in September 2017. This month's total of 231 is lower than the previous month's total supply of available inventory of 246, a decrease of 6%.

Median Sale Price
Last September, the median sale price for Bel Air Homes was $253,450. This September, the median sale price was $277,000, an increase of 9% or $23,550 compared to last year. The current median sold price is 1% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Down -22%
Vs. Year Ago
Up 13%
Vs. Year Ago
No Change
Vs. Year Ago
Down -20%
Vs. Year Ago

Months of Supply
In September, there was 3.5 months of supply available in Bel Air, compared to 4.4 in September 2017. That is a decrease of 20% 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 102 homes newly listed for sale in Bel Air compared to 131 in September 2017, a decrease of 22%. There were 78 current contracts pending sale this September compared to 69 a year ago. The number of current contracts is 13% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Bel Air was 99.0% 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 23, lower than the average last year, which was 37, a decrease of 38%.

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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.