The Long & Foster Market Minute

FOCUS ON: ODENTON AND FORT MEADE HOUSING MARKET MAY 2024

Zip Code(s): 21113 and 20755
Units Sold
52
Active Inventory
48
Median Sale Price
$530,000
Days On Market
5
Up 2%
Vs. Year Ago
Down -32%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -55%
Vs. Year Ago

Units Sold
There was an increase in total units sold in May, with 52 sold this month in Odenton and Fort Meade Real Estate versus 48 last month, an increase of 8%. This month's total units sold was higher than at this time last year, an increase of 2% versus May 2023.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 32%. The total number of active inventory this May was 48 compared to 71 in May 2023. This month's total of 48 is higher than the previous month's total supply of available inventory of 37, an increase of 30%.

Median Sale Price
Last May, the median sale price for Odenton and Fort Meade Homes was $520,000. This May, the median sale price was $530,000, an increase of 2% or $10,000 compared to last year. The current median sold price is 16% higher 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
40
Current Contracts
26
Sold Vs. List Price
102.1%
Months of Supply
0.9
Down -38%
Vs. Year Ago
Down -46%
Vs. Year Ago
Up 1.1%
Vs. Year Ago
Down -34%
Vs. Year Ago

Months of Supply
In May, there was 0.9 months of supply available in Odenton and Fort Meade, compared to 1.4 in May 2023. That is a decrease of 34% 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 40 homes newly listed for sale in Odenton and Fort Meade compared to 65 in May 2023, a decrease of 38%. There were 26 current contracts pending sale this May compared to 48 a year ago. The number of current contracts is 46% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Odenton and Fort Meade was 102.1% of the average list price, which is 1.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 5, lower than the average last year, which was 11, a decrease of 55%.

The Long & Foster Market Minute Odenton and Fort Meade are defined as properties listed in zip code/s 21113 and 20755.
*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.