The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market October 2018

Zip Code(s): 21047 and 21085
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -19%
Vs. Year Ago
Down -12%
Vs. Year Ago
Vs. Year Ago
Down -10%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 29 sold this month in Fallston and Joppa Real Estate versus 34 last month, a decrease of 15%. This month's total units sold was lower than at this time last year, a decrease of 19% versus October 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 15 units or 12%. The total number of active inventory this October was 107 compared to 122 in October 2017. This month's total of 107 is higher than the previous month's total supply of available inventory of 105, an increase of 2%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last October, the median sale price for Fallston and Joppa Homes was $332,500. This October, the median sale price was $245,000, a decrease of $87,500 compared to last year. The current median sold price is lower than in September.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -20%
Vs. Year Ago
Down -31%
Vs. Year Ago
Down -1.4%
Vs. Year Ago
Up 9%
Vs. Year Ago

Months of Supply
In October, there was 3.7 months of supply available in Fallston and Joppa, compared to 3.4 in October 2017. That is an increase 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 39 homes newly listed for sale in Fallston and Joppa compared to 49 in October 2017, a decrease of 20%. There were 25 current contracts pending sale this October compared to 36 a year ago. The number of current contracts is 31% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Fallston and Joppa was 97.9% of the average list price, which is 1.4% lower than at this time last year.

Days on Market
This month, the average number of days on market was 55, lower than the average last year, which was 61, a decrease of 10%.

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.