The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market July 2018

Zip Code(s): 21047 and 21085
Units Sold
37
Active Inventory
103
Median Sale Price
$260,000
Days On Market
33
Up 32%
Vs. Year Ago
Down -31%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -3%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 37 sold this month in Fallston and Joppa Real Estate versus 56 last month, a decrease of 34%. This month's total units sold was higher than at this time last year, an increase of 32% versus July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 47 units or 31%. The total number of active inventory this July was 103 compared to 150 in July 2017. This month's total of 103 is higher than the previous month's total supply of available inventory of 98, an increase of 5%.

Median Sale Price
Last July, the median sale price for Fallston and Joppa Homes was $229,950. This July, the median sale price was $260,000, an increase of 13% or $30,050 compared to last year. The current median sold price is 17% 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
62
Current Contracts
37
Sold Vs. List Price
99.4%
Months of Supply
2.8
Up 13%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -48%
Vs. Year Ago

Months of Supply
In July, there was 2.8 months of supply available in Fallston and Joppa, compared to 5.4 in July 2017. That is a decrease of 48% 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 62 homes newly listed for sale in Fallston and Joppa compared to 55 in July 2017, an increase of 13%. There were 37 current contracts pending sale this July compared to 36 a year ago. The number of current contracts is 3% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Fallston and Joppa was 99.4% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 33, lower than the average last year, which was 34, a decrease of 3%.

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.