The Long & Foster Market Minute

Focus On: Ellicott City Housing Market May 2022

Zip Code(s): 21042 and 21043
Units Sold
124
Active Inventory
64
Median Sale Price
$689,827
Days On Market
6
Down -7%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 28%
Vs. Year Ago
Down -40%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 124 sold this month in Ellicott City Real Estate versus 110 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 7% versus May 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 31 units or 33%. The total number of active inventory this May was 64 compared to 95 in May 2021. This month's total of 64 is higher than the previous month's total supply of available inventory of 56, an increase of 14%.

Median Sale Price
Last May, the median sale price for Ellicott City Homes was $540,000. This May, the median sale price was $689,827, an increase of $149,827 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.


New Listings
174
Current Contracts
145
Sold Vs. List Price
105.4%
Months of Supply
0.5
Up 5%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 2.7%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In May, there was 0.5 months of supply available in Ellicott City, compared to 0.7 in May 2021. That is a decrease of 28% 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 174 homes newly listed for sale in Ellicott City compared to 165 in May 2021, an increase of 5%. There were 145 current contracts pending sale this May compared to 154 a year ago. The number of current contracts is 6% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Ellicott City was 105.4% of the average list price, which is 2.8% higher than at this time last year.

Days on Market
This month, the average number of days on market was 6, lower than the average last year, which was 10, a decrease of 40%.

The Long & Foster Market Minute Ellicott City are defined as properties listed in zip code/s 21042 and 21043.
*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.