The Long & Foster Market Minute

Focus On: Dorchester County Housing Market December 2022

Units Sold
48
Active Inventory
131
Median Sale Price
$243,425
Days On Market
57
Down -21%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 6%
Vs. Year Ago
Up 90%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 48 sold this month in Dorchester County Real Estate versus 43 last month, an increase of 12%. This month's total units sold was lower than at this time last year, a decrease of 21% versus December 2021.

Active Inventory
Versus last year, the total number of homes available this month is higher by 10 units or 8%. The total number of active inventory this December was 131 compared to 121 in December 2021. This month's total of 131 is lower than the previous month's total supply of available inventory of 148, a decrease of 11%.

Median Sale Price
Last December, the median sale price for Dorchester County Homes was $229,000. This December, the median sale price was $243,425, an increase of 6% or $14,425 compared to last year. The current median sold price is 1% lower than in November.

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


New Listings
41
Current Contracts
32
Sold Vs. List Price
95.7%
Months of Supply
2.7
Down -9%
Vs. Year Ago
Down -36%
Vs. Year Ago
Down -2.3%
Vs. Year Ago
Up 38%
Vs. Year Ago

Months of Supply
In December, there was 2.7 months of supply available in Dorchester County, compared to 2.0 in December 2021. That is an increase of 38% 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 41 homes newly listed for sale in Dorchester County compared to 45 in December 2021, a decrease of 9%. There were 32 current contracts pending sale this December compared to 50 a year ago. The number of current contracts is 36% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Dorchester County was 95.7% of the average list price, which is 2.3% 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 30, an increase of 90%.

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.