The Long & Foster Market Minute

Focus On: Edgewater Housing Market September 2019

Zip Code(s): 21037 and 21140
Units Sold
47
Active Inventory
168
Median Sale Price
$399,000
Days On Market
38
Up 34%
Vs. Year Ago
Down -10%
Vs. Year Ago
Up 8%
Vs. Year Ago
Up 23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 47 sold this month in Edgewater Real Estate versus 54 last month, a decrease of 13%. This month's total units sold was higher than at this time last year, an increase of 34% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 18 units or 10%. The total number of active inventory this September was 168 compared to 186 in September 2018. This month's total of 168 is lower than the previous month's total supply of available inventory of 184, a decrease of 9%.

Median Sale Price
Last September, the median sale price for Edgewater Homes was $370,000. This September, the median sale price was $399,000, an increase of 8% or $29,000 compared to last year. The current median sold price is 3% 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
62
Current Contracts
47
Sold Vs. List Price
98.9%
Months of Supply
3.6
Up 7%
Vs. Year Ago
Up 62%
Vs. Year Ago
No Change
Vs. Year Ago
Down -33%
Vs. Year Ago

Months of Supply
In September, there was 3.6 months of supply available in Edgewater, compared to 5.3 in September 2018. That is a decrease of 33% 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 62 homes newly listed for sale in Edgewater compared to 58 in September 2018, an increase of 7%. There were 47 current contracts pending sale this September compared to 29 a year ago. The number of current contracts is 62% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Edgewater was 98.9% 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 38, higher than the average last year, which was 31, an increase of 23%.

The Long & Foster Market Minute Edgewater are defined as properties listed in zip code/s 21037 and 21140.
*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.