The Long & Foster Market Minute

Focus On: Caroline County Housing Market January 2024

Units Sold
29
Active Inventory
58
Median Sale Price
$265,000
Days On Market
64
Up
Vs. Year Ago
Down -13%
Vs. Year Ago
Down -12%
Vs. Year Ago
Up
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in January, with 29 sold this month in Caroline County Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 13%. The total number of active inventory this January was 58 compared to 67 in January 2023. This month's total of 58 is lower than the previous month's total supply of available inventory of 62, a decrease of 6%.

Median Sale Price
Last January, the median sale price for Caroline County Homes was $302,000. This January, the median sale price was $265,000, a decrease of 12% or $37,000 compared to last year. The current median sold price is 13% lower than in December.

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


New Listings
24
Current Contracts
26
Sold Vs. List Price
97.4%
Months of Supply
2.0
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Down -1.8%
Vs. Year Ago
Down -49%
Vs. Year Ago

Months of Supply
In January, there was 2.0 months of supply available in Caroline County, compared to 3.9 in January 2023. That is a decrease of 49% 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 24 homes newly listed for sale in Caroline County compared to 27 in January 2023, a decrease of 11%. There were 26 current contracts pending sale this January, consistent with the volume a year ago. The number of current contracts is 7% lower than last month.

Sale Price to List Price Ratio
In January, the average sale price in Caroline County was 97.4% of the average list price, which is 1.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 64, higher than the average last year, which was 40. This increase was impacted by the limited number of sales.

The Long & Foster Market Minute
*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.