The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market March 2019

Zip Code(s): 21047 and 21085
Units Sold
32
Active Inventory
73
Median Sale Price
$258,500
Days On Market
51
Down -16%
Vs. Year Ago
Down -23%
Vs. Year Ago
Down
Vs. Year Ago
Down -24%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 32 sold this month in Fallston and Joppa Real Estate versus 31 last month, an increase of 3%. This month's total units sold was lower than at this time last year, a decrease of 16% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 22 units or 23%. The total number of active inventory this March was 73 compared to 95 in March 2018. This month's total of 73 is lower than the previous month's total supply of available inventory of 76, a decrease of 4%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Fallston and Joppa Homes was $364,750. This March, the median sale price was $258,500, a decrease of $106,250 compared to last year. The current median sold price is higher than in February.

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


New Listings
52
Current Contracts
42
Sold Vs. List Price
97.7%
Months of Supply
2.3
Up 11%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -1.8%
Vs. Year Ago
Down -9%
Vs. Year Ago

Months of Supply
In March, there was 2.3 months of supply available in Fallston and Joppa, compared to 2.5 in March 2018. That is a decrease of 9% 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 52 homes newly listed for sale in Fallston and Joppa compared to 47 in March 2018, an increase of 11%. There were 42 current contracts pending sale this March compared to 36 a year ago. The number of current contracts is 17% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Fallston and Joppa was 97.7% of the average list price, which is 1.8% lower than at this time last year.

Days on Market
This month, the average number of days on market was 51, lower than the average last year, which was 67, a decrease of 24%.

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.