The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market June 2020

Zip Code(s): 21047 and 21085
Units Sold
42
Active Inventory
36
Median Sale Price
$340,000
Days On Market
50
Up 2%
Vs. Year Ago
Down -65%
Vs. Year Ago
Up 5%
Vs. Year Ago
Up 85%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 42 sold this month in Fallston and Joppa Real Estate versus 36 last month, an increase of 17%. This month's total units sold was higher than at this time last year, an increase of 2% versus June 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 66 units or 65%. The total number of active inventory this June was 36 compared to 102 in June 2019. This month's total of 36 is lower than the previous month's total supply of available inventory of 60, a decrease of 40%.

Median Sale Price
Last June, the median sale price for Fallston and Joppa Homes was $325,000. This June, the median sale price was $340,000, an increase of 5% or $15,000 compared to last year. The current median sold price is 7% lower than in May.

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
67
Sold Vs. List Price
99.7%
Months of Supply
0.9
Down -9%
Vs. Year Ago
Up 46%
Vs. Year Ago
Up 1.2%
Vs. Year Ago
Down -65%
Vs. Year Ago

Months of Supply
In June, there was 0.9 months of supply available in Fallston and Joppa, compared to 2.5 in June 2019. That is a decrease of 66% 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 55 in June 2019, a decrease of 9%. There were 67 current contracts pending sale this June compared to 46 a year ago. The number of current contracts is 46% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Fallston and Joppa was 99.7% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 50, higher than the average last year, which was 27, an increase of 85%.

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.