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| Focus On: Edgewood Housing Market | May 2020 | ||
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| Zip Code(s): 21040 | |||
| Units Sold 31 |
Active Inventory 23 |
Median Sale Price $215,000 |
Days On Market 25 |
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| Down -21% Vs. Year Ago |
Down -62% Vs. Year Ago |
Up Vs. Year Ago |
Down -40% Vs. Year Ago |
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Units Sold
There was an increase in total units sold in May, with 31 sold this month in Edgewood Real Estate versus 26 last month, an increase of 19%. This month's total units sold was lower than at this time last year, a decrease of 21% versus May 2019. |
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Active Inventory
Versus last year, the total number of homes available this month is lower by 37 units or 62%. The total number of active inventory this May was 23 compared to 60 in May 2019. This month's total of 23 is lower than the previous month's total supply of available inventory of 42, a decrease of 45%. |
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Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last May, the median sale price for Edgewood Homes was $150,000. This May, the median sale price was $215,000, an increase of $65,000 compared to last year. The current median sold price is higher than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median. |
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| New Listings 36 |
Current Contracts 46 |
Sold Vs. List Price 99.2% |
Months of Supply 0.7 |
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| Down -12% Vs. Year Ago |
Up 53% Vs. Year Ago |
Up 1% Vs. Year Ago |
Down -52% Vs. Year Ago |
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Months of Supply
In May, there was 0.7 months of supply available in Edgewood, compared to 1.5 in May 2019. That is a decrease of 52% 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. |
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New Listings & Current Contracts
This month there were 36 homes newly listed for sale in Edgewood compared to 41 in May 2019, a decrease of 12%. There were 46 current contracts pending sale this May compared to 30 a year ago. The number of current contracts is 53% higher than last May. |
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Sale Price to List Price Ratio
In May, the average sale price in Edgewood was 99.2% of the average list price, which is 1.0% higher than at this time last year. Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 42, a decrease of 40%. | |||
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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. | |||
 Information 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. |
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