The Long & Foster Market Minute

Focus On: Millersville and Severn Housing Market December 2021

Zip Code(s): 21144 and 21108
Units Sold
58
Active Inventory
24
Median Sale Price
$457,500
Days On Market
17
Down -28%
Vs. Year Ago
Down -53%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -23%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in December, with 58 sold this month in Millersville and Severn Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 27 units or 53%. The total number of active inventory this December was 24 compared to 51 in December 2020. This month's total of 24 is lower than the previous month's total supply of available inventory of 41, a decrease of 41%.

Median Sale Price
Last December, the median sale price for Millersville and Severn Homes was $420,000. This December, the median sale price was $457,500, an increase of 9% or $37,500 compared to last year. The current median sold price is 2% higher than in November.

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


New Listings
50
Current Contracts
58
Sold Vs. List Price
100.5%
Months of Supply
0.4
Up 19%
Vs. Year Ago
Down -13%
Vs. Year Ago
No Change
Vs. Year Ago
Down -35%
Vs. Year Ago

Months of Supply
In December, there was 0.4 months of supply available in Millersville and Severn, compared to 0.6 in December 2020. That is a decrease of 34% 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 50 homes newly listed for sale in Millersville and Severn compared to 42 in December 2020, an increase of 19%. There were 58 current contracts pending sale this December compared to 67 a year ago. The number of current contracts is 13% lower than last December.

Sale Price to List Price Ratio
In December, the average sale price in Millersville and Severn was 100.5% 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 17, lower than the average last year, which was 22, a decrease of 23%.

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.