The Long & Foster Market Minute

Focus On: Caroline County Housing Market August 2021

Units Sold
46
Active Inventory
71
Median Sale Price
$271,500
Days On Market
17
Up 15%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -84%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 46 sold this month in Caroline County Real Estate versus 43 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 15% versus August 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 11%. The total number of active inventory this August was 71 compared to 80 in August 2020. This month's total of 71 is lower than the previous month's total supply of available inventory of 82, a decrease of 13%.

Median Sale Price
Last August, the median sale price for Caroline County Homes was $250,000. This August, the median sale price was $271,500, an increase of 9% or $21,500 compared to last year. The current median sold price is 1% lower than in July.

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


New Listings
54
Current Contracts
49
Sold Vs. List Price
98.8%
Months of Supply
1.5
Up 15%
Vs. Year Ago
Up 2%
Vs. Year Ago
No Change
Vs. Year Ago
Down -23%
Vs. Year Ago

Months of Supply
In August, there was 1.5 months of supply available in Caroline County, compared to 2.0 in August 2020. That is a decrease of 23% 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 54 homes newly listed for sale in Caroline County compared to 47 in August 2020, an increase of 15%. There were 49 current contracts pending sale this August compared to 48 a year ago. The number of current contracts is 2% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Caroline County 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 17, lower than the average last year, which was 109, a decrease of 84%.

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.