The Long & Foster Market Minute

Focus On: Edgewater Housing Market October 2022

Zip Code(s): 21037 and 21140
Units Sold
25
Active Inventory
55
Median Sale Price
$589,900
Days On Market
24
Down
Vs. Year Ago
Down -8%
Vs. Year Ago
Up
Vs. Year Ago
Down -17%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in October, with 25 sold this month in Edgewater Real Estate. This month's total units sold was lower than at this time last year, a decrease from October 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 8%. The total number of active inventory this October was 55 compared to 60 in October 2021. This month's supply remained stable as compared to last month.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Edgewater Homes was $462,500. This October, the median sale price was $589,900, an increase of $127,400 compared to last year. The current median sold price is higher than in September.

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


New Listings
32
Current Contracts
24
Sold Vs. List Price
99.3%
Months of Supply
2.2
Down -38%
Vs. Year Ago
Down -51%
Vs. Year Ago
Up 1.8%
Vs. Year Ago
Up 83%
Vs. Year Ago

Months of Supply
In October, there was 2.2 months of supply available in Edgewater, compared to 1.2 in October 2021. That is an increase of 83% 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 32 homes newly listed for sale in Edgewater compared to 52 in October 2021, a decrease of 38%. There were 24 current contracts pending sale this October compared to 49 a year ago. The number of current contracts is 51% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Edgewater was 99.3% of the average list price, which is 1.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 24, lower than the average last year, which was 29, a decrease of 17%.

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.