The Long & Foster Market Minute

Focus On: Edgewater Housing Market January 2024

Zip Code(s): 21037 and 21140
Units Sold
14
Active Inventory
29
Median Sale Price
$593,000
Days On Market
31
Up
Vs. Year Ago
Down -42%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -30%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in January, with 14 sold this month in Edgewater Real Estate. This month's total units sold was higher than at this time last year, an increase from January 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 21 units or 42%. The total number of active inventory this January was 29 compared to 50 in January 2023. This month's total of 29 is lower than the previous month's total supply of available inventory of 31, a decrease of 6%.

Median Sale Price
Last January, the median sale price for Edgewater Homes was $532,500. This January, the median sale price was $593,000, an increase of 11% or $60,500 compared to last year. The current median sold price is 18% higher than in December.

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


New Listings
15
Current Contracts
14
Sold Vs. List Price
100.1%
Months of Supply
2.1
Down -58%
Vs. Year Ago
Down -26%
Vs. Year Ago
Up 3.7%
Vs. Year Ago
Down -59%
Vs. Year Ago

Months of Supply
In January, there was 2.1 months of supply available in Edgewater, compared to 5.0 in January 2023. That is a decrease of 59% 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 15 homes newly listed for sale in Edgewater compared to 36 in January 2023, a decrease of 58%. There were 14 current contracts pending sale this January compared to 19 a year ago. The number of current contracts is 26% lower than last January.

Sale Price to List Price Ratio
In January, the average sale price in Edgewater was 100.1% of the average list price, which is 3.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 31, lower than the average last year, which was 44, a decrease of 30%.

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.