The Long & Foster Market Minute

Focus On: Millersville and Severn Housing Market September 2021

Zip Code(s): 21144 and 21108
Units Sold
75
Active Inventory
70
Median Sale Price
$437,500
Days On Market
15
Down -22%
Vs. Year Ago
Down -7%
Vs. Year Ago
No Change
Vs. Year Ago
Down -53%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 75 sold this month in Millersville and Severn Real Estate versus 86 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 22% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5 units or 7%. The total number of active inventory this September was 70 compared to 75 in September 2020. This month's total of 70 is higher than the previous month's total supply of available inventory of 67, an increase of 4%.

Median Sale Price
Last September, the median sale price for Millersville and Severn Homes was $439,050. This September, the median sale price was $437,500, which is similar compared to a year ago. The current median sold price is 20% lower 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
93
Current Contracts
81
Sold Vs. List Price
101.8%
Months of Supply
0.9
Up 2%
Vs. Year Ago
Up 1%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Up 19%
Vs. Year Ago

Months of Supply
In September, there was 0.9 months of supply available in Millersville and Severn, compared to 0.8 in September 2020. That is an increase of 19% 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 93 homes newly listed for sale in Millersville and Severn compared to 91 in September 2020, an increase of 2%. There were 81 current contracts pending sale this September compared to 80 a year ago. The number of current contracts remained stable as compared to last September.

Sale Price to List Price Ratio
In September, the average sale price in Millersville and Severn was 101.8% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 15, lower than the average last year, which was 32, a decrease of 53%.

The Long & Foster Market Minute Millersville and Severn are defined as properties listed in zip code/s 21144 and 21108.
*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.