The Long & Foster Market Minute

Focus On: Harford County Housing Market July 2018

Units Sold
393
Active Inventory
928
Median Sale Price
$264,450
Days On Market
32
Up 12%
Vs. Year Ago
Down -24%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -29%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 393 sold this month in Harford County Real Estate versus 450 last month, a decrease of 13%. This month's total units sold was higher than at this time last year, an increase of 12% versus July 2017.

Active Inventory
Versus last year, the total number of homes available this month is lower by 287 units or 24%. The total number of active inventory this July was 928 compared to 1,215 in July 2017. This month's total of 928 is higher than the previous month's total supply of available inventory of 910, an increase of 2%.

Median Sale Price
Last July, the median sale price for Harford County Homes was $249,500. This July, the median sale price was $264,450, an increase of 6% or $14,950 compared to last year. The current median sold price is 6% 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
526
Current Contracts
371
Sold Vs. List Price
99.0%
Months of Supply
2.4
Up 4%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -32%
Vs. Year Ago

Months of Supply
In July, there was 2.4 months of supply available in Harford County, compared to 3.5 in July 2017. That is a decrease of 32% 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 526 homes newly listed for sale in Harford County compared to 506 in July 2017, an increase of 4%. There were 371 current contracts pending sale this July compared to 360 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 Harford County was 99.0% 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 32, lower than the average last year, which was 45, a decrease of 29%.

The Long & Foster Market Minute
*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.