NORTHERN LAUREL, JESSUP, AND SAVAGE HOUSING MARKET DATA

There was a decrease in total units sold in May, with 37 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 42 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 24% versus May 2024.

Versus last year, the total number of homes available this month is higher by 1 units or 2%. The total number of active inventory this May was 63 compared to 62 in May 2024. This month's total of 63 is lower than the previous month's total supply of available inventory of 86, a decrease of 27%.

Last May, the median sale price for Northern Laurel, Jessup, and Savage Homes was $683,830. This May, the median sale price was $515,000, a decrease of 25% or $168,830 compared to last year. The current median sold price is 20% lower than in April.

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

In May, there was 1.7 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.3 in May 2024. That is an increase of 35% 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 42 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 56 in May 2024, a decrease of 25%. There were 55 current contracts pending sale this May compared to 52 a year ago. The number of current contracts is 6% higher than last May.

In May, the average sale price in Northern Laurel, Jessup, and Savage was 102.6% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 18, higher than the average last year, which was 12. This increase was impacted by the limited number of sales.





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

Zip Code(s): 20723, 20794 and 20763
Units Sold 37	Active Inventory 63	Median Sale Price $515,000	Days On Market 18

Down -24% Vs. Year Ago	Up 2% Vs. Year Ago	Down -25% Vs. Year Ago	Up Vs. Year Ago


		Units Sold There was a decrease in total units sold in May, with 37 sold this month in Northern Laurel, Jessup, and Savage Real Estate versus 42 last month, a decrease of 12%. This month's total units sold was lower than at this time last year, a decrease of 24% versus May 2024.
Active Inventory Versus last year, the total number of homes available this month is higher by 1 units or 2%. The total number of active inventory this May was 63 compared to 62 in May 2024. This month's total of 63 is lower than the previous month's total supply of available inventory of 86, a decrease of 27%.
		Median Sale Price Last May, the median sale price for Northern Laurel, Jessup, and Savage Homes was $683,830. This May, the median sale price was $515,000, a decrease of 25% or $168,830 compared to last year. The current median sold price is 20% lower than in April. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 42	Current Contracts 55	Sold Vs. List Price 102.6%	Months of Supply 1.7

Down -25% Vs. Year Ago	Up 6% Vs. Year Ago	No Change Vs. Year Ago	Up 34% Vs. Year Ago


		Months of Supply In May, there was 1.7 months of supply available in Northern Laurel, Jessup, and Savage, compared to 1.3 in May 2024. That is an increase of 35% 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 42 homes newly listed for sale in Northern Laurel, Jessup, and Savage compared to 56 in May 2024, a decrease of 25%. There were 55 current contracts pending sale this May compared to 52 a year ago. The number of current contracts is 6% higher than last May.
		Sale Price to List Price Ratio In May, the average sale price in Northern Laurel, Jessup, and Savage was 102.6% 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 18, higher than the average last year, which was 12. This increase was impacted by the limited number of sales.


	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.