The Long & Foster Market Minute

Focus On: Hanover and Linthicum Heights Housing Market May 2020

Zip Code(s): 21076, 21090 and 21077
Units Sold
54
Active Inventory
92
Median Sale Price
$420,000
Days On Market
28
Down -16%
Vs. Year Ago
Down -48%
Vs. Year Ago
Up 10%
Vs. Year Ago
Down -22%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 54 sold this month in Hanover and Linthicum Heights Real Estate versus 59 last month, a decrease of 8%. This month's total units sold was lower than at this time last year, a decrease of 16% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 85 units or 48%. The total number of active inventory this May was 92 compared to 177 in May 2019. This month's total of 92 is lower than the previous month's total supply of available inventory of 108, a decrease of 15%.

Median Sale Price
Last May, the median sale price for Hanover and Linthicum Heights Homes was $383,426. This May, the median sale price was $420,000, an increase of 10% or $36,574 compared to last year. The current median sold price is 8% higher than in April.

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


New Listings
92
Current Contracts
90
Sold Vs. List Price
100.0%
Months of Supply
1.7
Down -2%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -39%
Vs. Year Ago

Months of Supply
In May, there was 1.7 months of supply available in Hanover and Linthicum Heights, compared to 2.8 in May 2019. That is a decrease of 38% 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 92 homes newly listed for sale in Hanover and Linthicum Heights compared to 94 in May 2019, a decrease of 2%. There were 90 current contracts pending sale this May compared to 78 a year ago. The number of current contracts is 15% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Hanover and Linthicum Heights was 100.0% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 28, lower than the average last year, which was 36, a decrease of 22%.

The Long & Foster Market Minute Hanover and Linthicum Heights are defined as properties listed in zip code/s 21076, 21090 and 21077.
*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.