The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market September 2021

Units Sold
1,441
Active Inventory
2,270
Median Sale Price
$354,450
Days On Market
23
Down -17%
Vs. Year Ago
Down -29%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -69%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 1,441 sold this month in Eastern Shore Maryland Real Estate versus 1,525 last month, a decrease of 6%. This month's total units sold was lower than at this time last year, a decrease of 17% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 947 units or 29%. The total number of active inventory this September was 2,270 compared to 3,217 in September 2020. This month's total of 2,270 is lower than the previous month's total supply of available inventory of 2,397, a decrease of 5%.

Median Sale Price
Last September, the median sale price for Eastern Shore Maryland Homes was $323,000. This September, the median sale price was approximately the same at $354,450. The current median sold price is 10% higher than in September 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
1,633
Current Contracts
1,487
Sold Vs. List Price
99.2%
Months of Supply
1.6
Down -14%
Vs. Year Ago
Down -18%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -15%
Vs. Year Ago

Months of Supply
In September, there was 1.6 months of supply available in Eastern Shore Maryland, compared to 1.9 in September 2020. That is a decrease of 15% 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 1,633 homes newly listed for sale in Eastern Shore Maryland compared to 1,893 in September 2020, a decrease of 14%. There were 1,487 current contracts pending sale this September compared to 1,807 a year ago. The number of current contracts is 18% lower than last September.

Sale Price to List Price Ratio
In September, the average sale price in Eastern Shore Maryland was 99.2% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 23, lower than the average last year, which was 74, a decrease of 69%.

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.