The Long & Foster Market Minute

Focus On: Dorchester County Housing Market June 2020

Units Sold
42
Active Inventory
150
Median Sale Price
$230,500
Days On Market
111
Up 14%
Vs. Year Ago
Down -43%
Vs. Year Ago
Up
Vs. Year Ago
Down -8%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 42 sold this month in Dorchester County 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 113 units or 43%. The total number of active inventory this June was 150 compared to 263 in June 2019. This month's total of 150 is lower than the previous month's total supply of available inventory of 195, a decrease of 23%.

Median Sale Price
Last June, the median sale price for Dorchester County Homes was $149,900. This June, the median sale price was $230,500, an increase of $80,600 compared to last year. The current median sold price is higher than in May.

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


New Listings
44
Current Contracts
75
Sold Vs. List Price
94.9%
Months of Supply
3.6
Down -8%
Vs. Year Ago
Up 70%
Vs. Year Ago
Down -0.8%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In June, there was 3.6 months of supply available in Dorchester County, compared to 7.1 in June 2019. That is a decrease of 50% 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 44 homes newly listed for sale in Dorchester County compared to 48 in June 2019, a decrease of 8%. There were 75 current contracts pending sale this June compared to 44 a year ago. The number of current contracts is 70% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Dorchester County was 94.9% of the average list price, which is 0.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 111, lower than the average last year, which was 121, a decrease of 8%.

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.