The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market December 2019

Units Sold
1,183
Active Inventory
5,000
Median Sale Price
$275,000
Days On Market
87
Up 32%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was an increase in total units sold in December, with 1,183 sold this month in Eastern Shore Maryland Real Estate versus 1,103 last month, an increase of 7%. This month's total units sold was higher than at this time last year, an increase of 32% versus December 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,565 units or 24%. The total number of active inventory this December was 5,000 compared to 6,565 in December 2018. This month's total of 5,000 is lower than the previous month's total supply of available inventory of 5,970, a decrease of 16%.

Median Sale Price
Last December, the median sale price for Eastern Shore Maryland Homes was $265,000. This December, the median sale price was approximately the same at $275,000. The current median sold price is 4% higher than in December 2018.

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


New Listings
801
Current Contracts
767
Sold Vs. List Price
98.2%
Months of Supply
4.2
Up 2%
Vs. Year Ago
Up 18%
Vs. Year Ago
No Change
Vs. Year Ago
Down -42%
Vs. Year Ago

Months of Supply
In December, there was 4.2 months of supply available in Eastern Shore Maryland, compared to 7.3 in December 2018. That is a decrease of 42% 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 801 homes newly listed for sale in Eastern Shore Maryland compared to 784 in December 2018, an increase of 2%. There were 767 current contracts pending sale this December compared to 649 a year ago. The number of current contracts is 18% higher than last December.

Sale Price to List Price Ratio
In December, the average sale price in Eastern Shore Maryland was 98.2% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 87, lower than the average last year, which was 94, a decrease of 7%.

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.