EASTERN SHORE MARYLAND HOUSING MARKET DATA

There was an increase in total units sold in July, with 1,118 sold this month in Eastern Shore Maryland Real Estate versus 1,099 last month, an increase of 2%. This month's total units sold was higher than at this time last year, an increase of 14% versus July 2023.

Versus last year, the total number of homes available this month is higher by 730 units or 26%. The total number of active inventory this July was 3,511 compared to 2,781 in July 2023. This month's total of 3,511 is lower than the previous month's total supply of available inventory of 3,587, a decrease of 2%.

Last July, the median sale price for Eastern Shore Maryland Homes was $399,900. This July, the median sale price was $415,000, an increase of 4% or $15,100 compared to last year. The current median sold price is 5% lower than in June.

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

In July, there was 3.1 months of supply available in Eastern Shore Maryland, compared to 2.8 in July 2023. That is an increase of 10% 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.

This month there were 1,435 homes newly listed for sale in Eastern Shore Maryland compared to 1,266 in July 2023, an increase of 13%. There were 1,117 current contracts pending sale this July compared to 1,036 a year ago. The number of current contracts is 8% higher than last July.

In July, the average sale price in Eastern Shore Maryland was 99.2% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 48, higher than the average last year, which was 35, an increase of 37%.





FOCUS ON: EASTERN SHORE MARYLAND HOUSING MARKET			JULY 2024

Units Sold 1,118	Active Inventory 3,511	Median Sale Price $415,000	Days On Market 48

Up 14% Vs. Year Ago	Up 26% Vs. Year Ago	Up 4% Vs. Year Ago	Up 37% Vs. Year Ago


		Units Sold There was an increase in total units sold in July, with 1,118 sold this month in Eastern Shore Maryland Real Estate versus 1,099 last month, an increase of 2%. This month's total units sold was higher than at this time last year, an increase of 14% versus July 2023.
Active Inventory Versus last year, the total number of homes available this month is higher by 730 units or 26%. The total number of active inventory this July was 3,511 compared to 2,781 in July 2023. This month's total of 3,511 is lower than the previous month's total supply of available inventory of 3,587, a decrease of 2%.
		Median Sale Price Last July, the median sale price for Eastern Shore Maryland Homes was $399,900. This July, the median sale price was $415,000, an increase of 4% or $15,100 compared to last year. The current median sold price is 5% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 1,435	Current Contracts 1,117	Sold Vs. List Price 99.2%	Months of Supply 3.1

Up 13% Vs. Year Ago	Up 8% Vs. Year Ago	No Change Vs. Year Ago	Up 10% Vs. Year Ago


		Months of Supply In July, there was 3.1 months of supply available in Eastern Shore Maryland, compared to 2.8 in July 2023. That is an increase of 10% 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 1,435 homes newly listed for sale in Eastern Shore Maryland compared to 1,266 in July 2023, an increase of 13%. There were 1,117 current contracts pending sale this July compared to 1,036 a year ago. The number of current contracts is 8% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Eastern Shore Maryland was 99.2% 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 48, higher than the average last year, which was 35, an increase of 37%.


	*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.
	Information 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.