The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market July 2019

Zip Code(s): 21047 and 21085
Units Sold
51
Active Inventory
84
Median Sale Price
$242,388
Days On Market
39
Up
Vs. Year Ago
Down -26%
Vs. Year Ago
Down -7%
Vs. Year Ago
Down -9%
Vs. Year Ago

Units Sold
There was an increase in total units sold in July, with 51 sold this month in Fallston and Joppa Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 30 units or 26%. The total number of active inventory this July was 84 compared to 114 in July 2018. This month's total of 84 is lower than the previous month's total supply of available inventory of 109, a decrease of 23%.

Median Sale Price
Last July, the median sale price for Fallston and Joppa Homes was $260,000. This July, the median sale price was $242,388, a decrease of $17,612 compared to last year. The current median sold price is lower than in June.

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


New Listings
50
Current Contracts
53
Sold Vs. List Price
98.3%
Months of Supply
1.6
Down -15%
Vs. Year Ago
Up 56%
Vs. Year Ago
Down -2%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In July, there was 1.6 months of supply available in Fallston and Joppa, compared to 3.1 in July 2018. That is a decrease of 47% 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 50 homes newly listed for sale in Fallston and Joppa compared to 59 in July 2018, a decrease of 15%. There were 53 current contracts pending sale this July compared to 34 a year ago. The number of current contracts is 56% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Fallston and Joppa was 98.3% of the average list price, which is 2.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 39, lower than the average last year, which was 43, a decrease of 9%.

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 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.