The Long & Foster Market Minute

Focus On: Edgewood Housing Market March 2019

Zip Code(s): 21040
Units Sold
29
Active Inventory
51
Median Sale Price
$153,100
Days On Market
35
Up
Vs. Year Ago
Down -15%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -13%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 29 sold this month in Edgewood Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 9 units or 15%. The total number of active inventory this March was 51 compared to 60 in March 2018. This month's total of 51 is higher than the previous month's total supply of available inventory of 49, an increase of 4%.

Median Sale Price
Last March, the median sale price for Edgewood Homes was $129,900. This March, the median sale price was $153,100, an increase of 18% or $23,200 compared to last year. The current median sold price is 8% higher than in February.

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


New Listings
55
Current Contracts
45
Sold Vs. List Price
97.6%
Months of Supply
1.8
Up 96%
Vs. Year Ago
Up 73%
Vs. Year Ago
Down -1.3%
Vs. Year Ago
Down -50%
Vs. Year Ago

Months of Supply
In March, there was 1.8 months of supply available in Edgewood, compared to 3.5 in March 2018. That is a decrease of 50% 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 55 homes newly listed for sale in Edgewood compared to 28 in March 2018, an increase of 96%. There were 45 current contracts pending sale this March compared to 26 a year ago. The number of current contracts is 73% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Edgewood was 97.6% of the average list price, which is 1.3% lower than at this time last year.

Days on Market
This month, the average number of days on market was 35, lower than the average last year, which was 40, a decrease of 13%.

The Long & Foster Market Minute Edgewood are defined as properties listed in zip code/s 21040.
*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.