The Long & Foster Market Minute

Focus On: Fallston and Joppa Housing Market January 2019

Zip Code(s): 21047 and 21085
Units Sold
21
Active Inventory
67
Median Sale Price
$239,000
Days On Market
71
No Change
Vs. Year Ago
Down -35%
Vs. Year Ago
Down
Vs. Year Ago
Up 27%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in January, with 21 sold this month in Fallston and Joppa Real Estate, a decrease of 19%. This month's total units sold is similar compared to a year ago.

Active Inventory
Versus last year, the total number of homes available this month is lower by 36 units or 35%. The total number of active inventory this January was 67 compared to 103 in January 2018. This month's total of 67 is lower than the previous month's total supply of available inventory of 82, a decrease of 18%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last January, the median sale price for Fallston and Joppa Homes was $330,000. This January, the median sale price was $239,000, a decrease of $91,000 compared to last year. The current median sold price is lower than in December.

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


New Listings
43
Current Contracts
35
Sold Vs. List Price
100.9%
Months of Supply
3.2
Up 7%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up
Vs. Year Ago
Down -35%
Vs. Year Ago

Months of Supply
In January, there was 3.2 months of supply available in Fallston and Joppa, compared to 4.9 in January 2018. That is a decrease of 35% 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 43 homes newly listed for sale in Fallston and Joppa compared to 40 in January 2018, an increase of 8%. There were 35 current contracts pending sale this January compared to 28 a year ago. The number of current contracts is 25% higher than last January.

Sale Price to List Price Ratio
In January, the average sale price in Fallston and Joppa was 100.9% of the average list price, which is higher than at this time last year.

Days on Market
This month, the average number of days on market was 71, higher than the average last year, which was 56, an increase of 27%.

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.