The Long & Foster Market Minute

Focus On: Bel Air Housing Market March 2021

Zip Code(s): 21014 and 21015
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 24%
Vs. Year Ago
Down -74%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -51%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 107 sold this month in Bel Air Real Estate. This month's total units sold was higher than at this time last year.

Active Inventory
Versus last year, the total number of homes available this month is lower by 110 units or 74%. The total number of active inventory this March was 38 compared to 148 in March 2020. This month's total of 38 is higher than the previous month's total supply of available inventory of 34, an increase of 12%.

Median Sale Price
Last March, the median sale price for Bel Air Homes was $310,782. This March, the median sale price was $345,000, an increase of 11% or $34,218 compared to last year. The current median sold price is 11% higher 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 7%
Vs. Year Ago
Up 21%
Vs. Year Ago
No Change
Vs. Year Ago
Down -79%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Bel Air, compared to 1.7 in March 2020. That is a decrease of 79% 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 134 homes newly listed for sale in Bel Air compared to 125 in March 2020, an increase of 7%. There were 125 current contracts pending sale this March compared to 103 a year ago. The number of current contracts is 21% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Bel Air was 100.1% 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, lower than the average last year, which was 49, a decrease of 51%.

The Long & Foster Market Minute Bel Air are defined as properties listed in zip code/s 21014 and 21015.
*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.