The Long & Foster Market Minute

Focus On: Berlin and Bishopville Housing Market March 2021

Zip Code(s): 21811, 21813 and 21862
Units Sold
64
Active Inventory
55
Median Sale Price
$320,000
Days On Market
43
Up 21%
Vs. Year Ago
Down -76%
Vs. Year Ago
Up 19%
Vs. Year Ago
Down -48%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 64 sold this month in Berlin and Bishopville Real Estate versus 50 last month, an increase of 28%. This month's total units sold was higher than at this time last year, an increase of 21% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 173 units or 76%. The total number of active inventory this March was 55 compared to 228 in March 2020. This month's total of 55 is lower than the previous month's total supply of available inventory of 63, a decrease of 13%.

Median Sale Price
Last March, the median sale price for Berlin and Bishopville Homes was $270,000. This March, the median sale price was $320,000, an increase of 19% or $50,000 compared to last year. The current median sold price is 2% 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
81
Current Contracts
80
Sold Vs. List Price
98.4%
Months of Supply
0.9
Up 31%
Vs. Year Ago
Up 74%
Vs. Year Ago
Up 0.5%
Vs. Year Ago
Down -80%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Berlin and Bishopville, compared to 4.3 in March 2020. That is a decrease of 80% 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 81 homes newly listed for sale in Berlin and Bishopville compared to 62 in March 2020, an increase of 31%. There were 80 current contracts pending sale this March compared to 46 a year ago. The number of current contracts is 74% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Berlin and Bishopville was 98.4% of the average list price, which is 0.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 43, lower than the average last year, which was 83, a decrease of 48%.

The Long & Foster Market Minute Berlin and Bishopville are defined as properties listed in zip code/s 21811, 21813 and 21862.
*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.