The Long & Foster Market Minute

Focus On: Upper Marlboro Housing Market October 2022

Zip Code(s): 20772 and 20774
Units Sold
Active Inventory
Median Sale Price
Days On Market
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 7%
Vs. Year Ago
Up 33%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in October, with 111 sold this month in Upper Marlboro Real Estate. This month's total units sold was lower than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is higher by 20 units or 10%. The total number of active inventory this October was 213 compared to 193 in October 2021. This month's total of 213 is lower than the previous month's total supply of available inventory of 242, a decrease of 12%.

Median Sale Price
Last October, the median sale price for Upper Marlboro Homes was $390,500. This October, the median sale price was $418,000, an increase of 7% or $27,500 compared to last year. The current median sold price is 5% lower than in September.

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

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Down -25%
Vs. Year Ago
Down -28%
Vs. Year Ago
No Change
Vs. Year Ago
Up 85%
Vs. Year Ago

Months of Supply
In October, there was 1.9 months of supply available in Upper Marlboro, compared to 1.0 in October 2021. That is an increase of 84% 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 143 homes newly listed for sale in Upper Marlboro compared to 191 in October 2021, a decrease of 25%. There were 132 current contracts pending sale this October compared to 183 a year ago. The number of current contracts is 28% lower than last October.

Sale Price to List Price Ratio
In October, the average sale price in Upper Marlboro was 100.6% 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 24, higher than the average last year, which was 18, an increase of 33%.

The Long & Foster Market Minute Upper Marlboro are defined as properties listed in zip code/s 20772 and 20774.
*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.