NORTHERN LAUREL, JESSUP, AND SAVAGE HOUSING MARKET DATA

There was an increase in total units sold in February, with 27 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 21 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 10% versus February 2024.

Versus last year, the total number of homes available this month is lower by 9 units or 17%. The total number of active inventory this February was 44 compared to 53 in February 2024. This month's total of 44 is lower than the previous month's total supply of available inventory of 58, a decrease of 24%.

Last February, the median sale price for Northern Laurel, Jessup, and Savage Homes was $650,844. This February, the median sale price was $630,888, a decrease of 3% or $19,956 compared to last year. The current median sold price is 12% lower than in January.

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

In February, there was 1.6 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.8 in February 2024. That is a decrease of 8% 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 28 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 39 in February 2024, a decrease of 28%. There were 40 current contracts pending sale this February compared to 34 a year ago. The number of current contracts is 18% higher than last February.

In February, the average sale price in Northern Laurel, Jessup, and Savage was 101.0% of the average list price, which is 0.7% lower than at this time last year.

This month, the average number of days on market was 20, higher than the average last year, which was 16, an increase of 25%.





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

Zip Code(s): 20723, 20794 and 20763
Units Sold 27	Active Inventory 44	Median Sale Price $630,888	Days On Market 20

Down -10% Vs. Year Ago	Down -17% Vs. Year Ago	Down -3% Vs. Year Ago	Up 25% Vs. Year Ago


		Units Sold There was an increase in total units sold in February, with 27 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 21 last month, an increase of 29%. This month's total units sold was lower than at this time last year, a decrease of 10% versus February 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 9 units or 17%. The total number of active inventory this February was 44 compared to 53 in February 2024. This month's total of 44 is lower than the previous month's total supply of available inventory of 58, a decrease of 24%.
		Median Sale Price Last February, the median sale price for Northern Laurel, Jessup, and Savage Homes was $650,844. This February, the median sale price was $630,888, a decrease of 3% or $19,956 compared to last year. The current median sold price is 12% lower than in January. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 28	Current Contracts 40	Sold Vs. List Price 101.0%	Months of Supply 1.6

Down -28% Vs. Year Ago	Up 18% Vs. Year Ago	Down -0.7% Vs. Year Ago	Down -8% Vs. Year Ago


		Months of Supply In February, there was 1.6 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.8 in February 2024. That is a decrease of 8% 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 28 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 39 in February 2024, a decrease of 28%. There were 40 current contracts pending sale this February compared to 34 a year ago. The number of current contracts is 18% higher than last February.
		Sale Price to List Price Ratio In February, the average sale price in Northern Laurel, Jessup, and Savage was 101.0% of the average list price, which is 0.7% lower than at this time last year. Days on Market This month, the average number of days on market was 20, higher than the average last year, which was 16, an increase of 25%.


	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.