The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market June 2021

Units Sold
1,628
Active Inventory
2,099
Median Sale Price
$341,000
Days On Market
28
Up 19%
Vs. Year Ago
Down -52%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -68%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 1,628 sold this month in Eastern Shore Maryland Real Estate versus 1,515 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 19% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 2,282 units or 52%. The total number of active inventory this June was 2,099 compared to 4,381 in June 2020. This month's total of 2,099 is lower than the previous month's total supply of available inventory of 2,110, a decrease of 1%.

Median Sale Price
Last June, the median sale price for Eastern Shore Maryland Homes was $295,500. This June, the median sale price was $341,000, an increase of 15% or $45,500 compared to last year. The current median sold price is 2% 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
1,931
Current Contracts
1,650
Sold Vs. List Price
100.2%
Months of Supply
1.3
Up 20%
Vs. Year Ago
Down -17%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Eastern Shore Maryland, compared to 3.2 in June 2020. That is a decrease of 60% 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 1,931 homes newly listed for sale in Eastern Shore Maryland compared to 1,610 in June 2020, an increase of 20%. There were 1,650 current contracts pending sale this June compared to 1,982 a year ago. The number of current contracts is 17% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Eastern Shore Maryland was 100.2% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 88, a decrease of 68%.

The Long & Foster Market Minute *Defined as the counties Caroline, Cecil, Dorchester, Kent, Queen Annes, Somerset, Talbot, Wicomico, and Worcester in MD and Sussex County in DE
*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.