NORTHERN LAUREL, JESSUP, AND SAVAGE HOUSING MARKET DATA

There was an increase in total units sold in March, with 33 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 27 last month, an increase of 22%. This month's total units sold was lower than at this time last year, a decrease of 20% versus March 2024.

The total number of homes available this month is 55 units, which is similar compared to a year ago. This month's total of 55 is higher than the previous month's total supply of available inventory of 53, an increase of 4%.

Last March, the median sale price for Northern Laurel, Jessup, and Savage Homes was $569,000. This March, the median sale price was $525,000, a decrease of 8% or $44,000 compared to last year. The current median sold price is 17% 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.

In March, there was 1.7 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.3 in March 2024. That is an increase 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 41 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 49 in March 2024, a decrease of 16%. There were 35 current contracts pending sale this March compared to 39 a year ago. The number of current contracts is 10% lower than last March.

In March, the average sale price in Northern Laurel, Jessup, and Savage was 101.2% of the average list price, which is 1.4% lower than at this time last year.

This month, the average number of days on market was 18, higher than the average last year, which was 15, an increase of 20%.





FOCUS ON: NORTHERN LAUREL, JESSUP, AND SAVAGE HOUSING MARKET			MARCH 2025

Zip Code(s): 20723, 20794 and 20763
Units Sold 33	Active Inventory 55	Median Sale Price $525,000	Days On Market 18

Down -20% Vs. Year Ago	No Change Vs. Year Ago	Down -8% Vs. Year Ago	Up 20% Vs. Year Ago


		Units Sold There was an increase in total units sold in March, with 33 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 27 last month, an increase of 22%. This month's total units sold was lower than at this time last year, a decrease of 20% versus March 2024.
Active Inventory The total number of homes available this month is 55 units, which is similar compared to a year ago. This month's total of 55 is higher than the previous month's total supply of available inventory of 53, an increase of 4%.
		Median Sale Price Last March, the median sale price for Northern Laurel, Jessup, and Savage Homes was $569,000. This March, the median sale price was $525,000, a decrease of 8% or $44,000 compared to last year. The current median sold price is 17% 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 41	Current Contracts 35	Sold Vs. List Price 101.2%	Months of Supply 1.7

Down -16% Vs. Year Ago	Down -10% Vs. Year Ago	Down -1.4% Vs. Year Ago	Up 25% Vs. Year Ago


		Months of Supply In March, there was 1.7 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.3 in March 2024. That is an increase 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 41 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 49 in March 2024, a decrease of 16%. There were 35 current contracts pending sale this March compared to 39 a year ago. The number of current contracts is 10% lower than last March.
		Sale Price to List Price Ratio In March, the average sale price in Northern Laurel, Jessup, and Savage was 101.2% of the average list price, which is 1.4% lower than at this time last year. Days on Market This month, the average number of days on market was 18, higher than the average last year, which was 15, an increase of 20%.


	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.