The Long & Foster Market Minute

Focus On: Federal Hill, Locust Point, and South Baltimore Housing Market March 2021

Zip Code(s): 21230
Units Sold
135
Active Inventory
133
Median Sale Price
$315,000
Days On Market
42
Up
Vs. Year Ago
Down -55%
Vs. Year Ago
Up 15%
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 135 sold this month in Federal Hill, Locust Point, and South Baltimore 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 161 units or 55%. The total number of active inventory this March was 133 compared to 294 in March 2020. This month's total of 133 is lower than the previous month's total supply of available inventory of 155, a decrease of 14%.

Median Sale Price
Last March, the median sale price for Federal Hill, Locust Point, and South Baltimore Homes was $275,000. This March, the median sale price was $315,000, an increase of 15% or $40,000 compared to last year. The current median sold price is 24% 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
163
Current Contracts
158
Sold Vs. List Price
98.3%
Months of Supply
1.0
Up 20%
Vs. Year Ago
Up 70%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -77%
Vs. Year Ago

Months of Supply
In March, there was 1.0 months of supply available in Federal Hill, Locust Point, and South Baltimore, compared to 4.3 in March 2020. That is a decrease of 77% 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 163 homes newly listed for sale in Federal Hill, Locust Point, and South Baltimore compared to 136 in March 2020, an increase of 20%. There were 158 current contracts pending sale this March compared to 93 a year ago. The number of current contracts is 70% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Federal Hill, Locust Point, and South Baltimore was 98.3% of the average list price, which is 1.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 42, lower than the average last year, which was 61, a decrease of 31%.

The Long & Foster Market Minute Federal Hill, Locust Point, and South Baltimore are defined as properties listed in zip code/s 21230.
*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.