The Long & Foster Market Minute

Focus On: Cecil County Housing Market July 2019

Units Sold
142
Active Inventory
524
Median Sale Price
$228,750
Days On Market
57
Up 5%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 21%
Vs. Year Ago

Units Sold
The number of units sold remained stable in July, with 142 sold this month in Cecil County Real Estate. This month's total units sold was higher than at this time last year, an increase of 20% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 3 units or 1%. The total number of active inventory this July was 524 compared to 527 in July 2018. This month's total of 524 is lower than the previous month's total supply of available inventory of 560, a decrease of 6%.

Median Sale Price
Last July, the median sale price for Cecil County Homes was $229,900. This July, the median sale price was $228,750, a decrease of 1% or $1,150 compared to last year. The current median sold price is 5% lower than in June.

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


New Listings
197
Current Contracts
149
Sold Vs. List Price
97.8%
Months of Supply
3.7
Up 20%
Vs. Year Ago
Up 31%
Vs. Year Ago
Down -1.5%
Vs. Year Ago
Down -5%
Vs. Year Ago

Months of Supply
In July, there was 3.7 months of supply available in Cecil County, compared to 3.9 in July 2018. That is a decrease of 5% 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 197 homes newly listed for sale in Cecil County compared to 164 in July 2018, an increase of 20%. There were 149 current contracts pending sale this July compared to 114 a year ago. The number of current contracts is 31% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Cecil County was 97.8% of the average list price, which is 1.5% lower than at this time last year.

Days on Market
This month, the average number of days on market was 57, higher than the average last year, which was 47, an increase of 21%.

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.