The Long & Foster Market Minute

Focus On: Bel Air Housing Market December 2019

Zip Code(s): 21014 and 21015
Units Sold
101
Active Inventory
157
Median Sale Price
$328,535
Days On Market
39
Up
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -20%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 101 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 lower by 60 units or 28%. The total number of active inventory this December was 157 compared to 217 in December 2018. This month's total of 157 is lower than the previous month's total supply of available inventory of 227, a decrease of 31%.

Median Sale Price
Last December, the median sale price for Bel Air Homes was $281,000. This December, the median sale price was $328,535, an increase of 17% or $47,535 compared to last year. The current median sold price is 11% higher than in November.

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


New Listings
68
Current Contracts
61
Sold Vs. List Price
98.8%
Months of Supply
1.6
Down -6%
Vs. Year Ago
Down -21%
Vs. Year Ago
No Change
Vs. Year Ago
Down -51%
Vs. Year Ago

Months of Supply
In December, there was 1.6 months of supply available in Bel Air, compared to 3.1 in December 2018. That is a decrease of 51% 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 68 homes newly listed for sale in Bel Air compared to 72 in December 2018, a decrease of 6%. There were 61 current contracts pending sale this December compared to 77 a year ago. The number of current contracts is 21% lower than last December.

Sale Price to List Price Ratio
In December, 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 39, lower than the average last year, which was 49, 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.