The Long & Foster Market Minute

Focus On: Dorchester County Housing Market August 2021

Units Sold
64
Active Inventory
115
Median Sale Price
$244,000
Days On Market
46
Up 12%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 22%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in August, with 64 sold this month in Dorchester County Real Estate versus 55 last month, an increase of 16%. This month's total units sold was higher than at this time last year, an increase of 12% versus August 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 40 units or 26%. The total number of active inventory this August was 115 compared to 155 in August 2020. This month's total of 115 is higher than the previous month's total supply of available inventory of 114, an increase of 1%.

Median Sale Price
Last August, the median sale price for Dorchester County Homes was $200,000. This August, the median sale price was approximately the same at $244,000. The current median sold price is 22% higher than in August 2020.

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


New Listings
73
Current Contracts
58
Sold Vs. List Price
99.2%
Months of Supply
1.8
Up 26%
Vs. Year Ago
Up 4%
Vs. Year Ago
Up 4.9%
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In August, there was 1.8 months of supply available in Dorchester County, compared to 2.7 in August 2020. That is a decrease of 34% 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 73 homes newly listed for sale in Dorchester County compared to 58 in August 2020, an increase of 26%. There were 58 current contracts pending sale this August compared to 56 a year ago. The number of current contracts is 4% higher than last August.

Sale Price to List Price Ratio
In August, the average sale price in Dorchester County was 99.2% of the average list price, which is 4.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 46, lower than the average last year, which was 80, a decrease of 43%.

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.