The Long & Foster Market Minute

Focus On: Millersville and Severn Housing Market September 2019

Zip Code(s): 21144 and 21108
Units Sold
Active Inventory
Median Sale Price
Days On Market
Down -2%
Vs. Year Ago
Down -28%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 8%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 83 sold this month in Millersville and Severn Real Estate versus 87 last month, a decrease of 5%. This month's total units sold was lower than at this time last year, a decrease of 2% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 68 units or 28%. The total number of active inventory this September was 177 compared to 245 in September 2018. This month's total of 177 is lower than the previous month's total supply of available inventory of 213, a decrease of 17%.

Median Sale Price
Last September, the median sale price for Millersville and Severn Homes was $379,500. This September, the median sale price was $390,650, an increase of 3% or $11,150 compared to last year. The current median sold price is 2% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 16%
Vs. Year Ago
Up 51%
Vs. Year Ago
No Change
Vs. Year Ago
Down -26%
Vs. Year Ago

Months of Supply
In September, there was 2.1 months of supply available in Millersville and Severn, compared to 2.9 in September 2018. That is a decrease of 26% 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 99 homes newly listed for sale in Millersville and Severn compared to 85 in September 2018, an increase of 16%. There were 98 current contracts pending sale this September compared to 65 a year ago. The number of current contracts is 51% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Millersville and Severn was 99.7% 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 42, higher than the average last year, which was 39, an increase of 8%.

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.