The Long & Foster Market Minute

Focus On: Middle River Housing Market September 2019

Zip Code(s): 21220
Units Sold
63
Active Inventory
135
Median Sale Price
$295,000
Days On Market
77
Up
Vs. Year Ago
Down -19%
Vs. Year Ago
Up 25%
Vs. Year Ago
Up 28%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 63 sold this month in Middle River Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 31 units or 19%. The total number of active inventory this September was 135 compared to 166 in September 2018. This month's total of 135 is lower than the previous month's total supply of available inventory of 153, a decrease of 12%.

Median Sale Price
Last September, the median sale price for Middle River Homes was $236,450. This September, the median sale price was $295,000, an increase of $58,550 compared to last year. The current median sold price is higher than in August.

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


New Listings
85
Current Contracts
52
Sold Vs. List Price
99.0%
Months of Supply
2.1
Up 23%
Vs. Year Ago
Up 6%
Vs. Year Ago
No Change
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In September, there was 2.1 months of supply available in Middle River, compared to 4.0 in September 2018. That is a decrease of 46% 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 85 homes newly listed for sale in Middle River compared to 69 in September 2018, an increase of 23%. There were 52 current contracts pending sale this September compared to 49 a year ago. The number of current contracts is 6% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Middle River was 99.0% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 77, higher than the average last year, which was 60, an increase of 28%.

The Long & Foster Market Minute Middle River are defined as properties listed in zip code/s 21220.
*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.