The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market September 2018

Zip Code(s): 21047 and 21085
Units Sold
30
Active Inventory
99
Median Sale Price
$290,000
Days On Market
28
Up 11%
Vs. Year Ago
Down -30%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 30 sold this month in Fallston and Joppa Real Estate versus 44 last month, a decrease of 32%. This month's total units sold was higher than at this time last year, an increase of 11% versus September 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 43 units or 30%. The total number of active inventory this September was 99 compared to 142 in September 2017. This month's total of 99 is lower than the previous month's total supply of available inventory of 119, a decrease of 17%.

Median Sale Price
Last September, the median sale price for Fallston and Joppa Homes was $285,000. This September, the median sale price was $290,000, an increase of 2% or $5,000 compared to last year. The current median sold price is 13% lower than in August.

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
33
Sold Vs. List Price
101.7%
Months of Supply
3.3
Down -36%
Vs. Year Ago
No Change
Vs. Year Ago
Up 4.6%
Vs. Year Ago
Down -37%
Vs. Year Ago

Months of Supply
In September, there was 3.3 months of supply available in Fallston and Joppa, compared to 5.3 in September 2017. That is a decrease of 37% 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 Fallston and Joppa compared to 50 in September 2017, a decrease of 36%. There were 33 current contracts pending sale this September, consistent with the volume a year ago. The number of current contracts is 30% lower than last month.

Sale Price to List Price Ratio
In September, the average sale price in Fallston and Joppa was 101.7% of the average list price, which is 4.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 49, a decrease of 43%.

The Long & Foster Market Minute Fallston and Joppa are defined as properties listed in zip code/s 21047 and 21085.
*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.