The Long & Foster Market Minute

Focus On: Middle River Housing Market March 2019

Zip Code(s): 21220
Units Sold
26
Active Inventory
123
Median Sale Price
$220,800
Days On Market
56
Down
Vs. Year Ago
Down -28%
Vs. Year Ago
Down -19%
Vs. Year Ago
Down -2%
Vs. Year Ago

Units Sold
With relatively few transactions, there was a decrease in total units sold in March, with 26 sold this month in Middle River Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 48 units or 28%. The total number of active inventory this March was 123 compared to 171 in March 2018. This month's total of 123 is lower than the previous month's total supply of available inventory of 139, a decrease of 12%.

Median Sale Price
Last March, the median sale price for Middle River Homes was $272,495. This March, the median sale price was $220,800, a decrease of 19% or $51,695 compared to last year. The current median sold price is 4% lower than in February.

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


New Listings
84
Current Contracts
75
Sold Vs. List Price
98.8%
Months of Supply
4.7
Up 5%
Vs. Year Ago
Up 32%
Vs. Year Ago
No Change
Vs. Year Ago
Up 22%
Vs. Year Ago

Months of Supply
In March, there was 4.7 months of supply available in Middle River, compared to 3.9 in March 2018. That is an increase of 22% 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 84 homes newly listed for sale in Middle River compared to 80 in March 2018, an increase of 5%. There were 75 current contracts pending sale this March compared to 57 a year ago. The number of current contracts is 32% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Middle River was 98.8% 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 56, lower than the average last year, which was 57, a decrease of 2%.

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.