The Long & Foster Market Minute

Focus On: La Plata, Indian Head, and Bryans Road Housing Market March 2021

Zip Code(s): 20646, 20640, 20616, 20658, 20677, 20662, 20693 and 20675
Units Sold
77
Active Inventory
56
Median Sale Price
$345,000
Days On Market
21
Up 8%
Vs. Year Ago
Down -71%
Vs. Year Ago
No Change
Vs. Year Ago
Down -60%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 77 sold this month in La Plata, Indian Head, and Bryans Road Real Estate versus 59 last month, an increase of 31%. This month's total units sold was higher than at this time last year, an increase of 8% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 135 units or 71%. The total number of active inventory this March was 56 compared to 191 in March 2020. This month's total of 56 is lower than the previous month's total supply of available inventory of 70, a decrease of 20%.

Median Sale Price
Last March, the median sale price for La Plata, Indian Head, and Bryans Road Homes was $345,000. This March, the median sale price was $345,000, which is similar compared to a year ago. The current median sold price is 3% 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
99
Current Contracts
93
Sold Vs. List Price
99.5%
Months of Supply
0.7
No Change
Vs. Year Ago
Up 43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -73%
Vs. Year Ago

Months of Supply
In March, there was 0.7 months of supply available in La Plata, Indian Head, and Bryans Road, compared to 2.7 in March 2020. That is a decrease of 73% 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 99 homes newly listed for sale in La Plata, Indian Head, and Bryans Road, which is similar to the amount in March 2020. There were 93 current contracts pending sale this March compared to 65 a year ago. The number of current contracts is 43% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in La Plata, Indian Head, and Bryans Road was 99.5% 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 21, lower than the average last year, which was 53, a decrease of 60%.

The Long & Foster Market Minute La Plata, Indian Head, and Bryans Road are defined as properties listed in zip code/s 20646, 20640, 20616, 20658, 20677, 20662, 20693 and 20675.
*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.