NORTHERN LAUREL, JESSUP, AND SAVAGE HOUSING MARKET DATA

There was a decrease in total units sold in July, with 46 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 52 last month, a decrease of 12%. This month's total units sold was higher than at this time last year, an increase of 2% versus July 2023.

Versus last year, the total number of homes available this month is lower by 16 units or 22%. The total number of active inventory this July was 56 compared to 72 in July 2023. This month's total of 56 is lower than the previous month's total supply of available inventory of 72, a decrease of 22%.

Last July, the median sale price for Northern Laurel, Jessup, and Savage Homes was $589,900. This July, the median sale price was $552,500, a decrease of 6% or $37,400 compared to last year. The current median sold price is 4% lower than in June.

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

In July, there was 1.2 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.6 in July 2023. That is a decrease of 24% 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.

This month there were 48 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 56 in July 2023, a decrease of 14%. There were 54 current contracts pending sale this July compared to 37 a year ago. The number of current contracts is 46% higher than last July.

In July, the average sale price in Northern Laurel, Jessup, and Savage was 100.2% of the average list price, which is 0.6% lower than at this time last year.

This month, the average number of days on market was 9, lower than the average last year, which was 14, a decrease of 36%.





FOCUS ON: NORTHERN LAUREL, JESSUP, AND SAVAGE HOUSING MARKET			JULY 2024

Zip Code(s): 20723, 20794 and 20763
Units Sold 46	Active Inventory 56	Median Sale Price $552,500	Days On Market 9

Up 2% Vs. Year Ago	Down -22% Vs. Year Ago	Down -6% Vs. Year Ago	Down -36% Vs. Year Ago


		Units Sold There was a decrease in total units sold in July, with 46 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 52 last month, a decrease of 12%. This month's total units sold was higher than at this time last year, an increase of 2% versus July 2023.
Active Inventory Versus last year, the total number of homes available this month is lower by 16 units or 22%. The total number of active inventory this July was 56 compared to 72 in July 2023. This month's total of 56 is lower than the previous month's total supply of available inventory of 72, a decrease of 22%.
		Median Sale Price Last July, the median sale price for Northern Laurel, Jessup, and Savage Homes was $589,900. This July, the median sale price was $552,500, a decrease of 6% or $37,400 compared to last year. The current median sold price is 4% lower than in June. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 48	Current Contracts 54	Sold Vs. List Price 100.2%	Months of Supply 1.2

Down -14% Vs. Year Ago	Up 46% Vs. Year Ago	Down -0.6% Vs. Year Ago	Down -24% Vs. Year Ago


		Months of Supply In July, there was 1.2 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.6 in July 2023. That is a decrease of 24% 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 48 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 56 in July 2023, a decrease of 14%. There were 54 current contracts pending sale this July compared to 37 a year ago. The number of current contracts is 46% higher than last July.
		Sale Price to List Price Ratio In July, the average sale price in Northern Laurel, Jessup, and Savage was 100.2% of the average list price, which is 0.6% lower than at this time last year. Days on Market This month, the average number of days on market was 9, lower than the average last year, which was 14, a decrease of 36%.


	Northern Laurel, Jessup, and Savage are defined as properties listed in zip code/s 20723, 20794 and 20763.
	*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.
	Information 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.