The Long & Foster Market Minute

Focus On: Eastern Shore Maryland Housing Market September 2019

Units Sold
1,195
Active Inventory
6,089
Median Sale Price
$270,145
Days On Market
87
Up 17%
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 2%
Vs. Year Ago
Up 2%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 1,195 sold this month in Eastern Shore Maryland Real Estate versus 1,356 last month, a decrease of 12%. This month's total units sold was higher than at this time last year, an increase of 17% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,073 units or 15%. The total number of active inventory this September was 6,089 compared to 7,162 in September 2018. This month's total of 6,089 is lower than the previous month's total supply of available inventory of 6,463, a decrease of 6%.

Median Sale Price
Last September, the median sale price for Eastern Shore Maryland Homes was $265,000. This September, the median sale price was $270,145, an increase of 2% or $5,145 compared to last year. The current median sold price is 2% lower than in August.

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


New Listings
1,546
Current Contracts
1,259
Sold Vs. List Price
97.5%
Months of Supply
5.1
Up 2%
Vs. Year Ago
Up 17%
Vs. Year Ago
No Change
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In September, there was 5.1 months of supply available in Eastern Shore Maryland, compared to 7.0 in September 2018. That is a decrease of 27% 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 1,546 homes newly listed for sale in Eastern Shore Maryland compared to 1,517 in September 2018, an increase of 2%. There were 1,259 current contracts pending sale this September compared to 1,072 a year ago. The number of current contracts is 17% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Eastern Shore Maryland was 97.5% 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, higher than the average last year, which was 85, an increase of 2%.

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.