The Long & Foster Market Minute

Focus On: Cumberland County Housing Market March 2021

Units Sold
12
Active Inventory
15
Median Sale Price
$219,375
Days On Market
76
Up
Vs. Year Ago
Down -61%
Vs. Year Ago
Up
Vs. Year Ago
Up 15%
Vs. Year Ago

Units Sold
With relatively few transactions, there was an increase in total units sold in March, with 12 sold this month in Cumberland County Real Estate. This month's total units sold was higher than at this time last year, an increase from March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 23 units or 61%. The total number of active inventory this March was 15 compared to 38 in March 2020. This month's total of 15 is higher than the previous month's total supply of available inventory of 10, an increase of 50%.

Median Sale Price
Due to the relatively small number of units sold, the median sale price showed significant change this month. Last March, the median sale price for Cumberland County Homes was $171,250. This March, the median sale price was $219,375, an increase of $48,125 compared to last year. The current median sold price is 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
13
Current Contracts
8
Sold Vs. List Price
97.9%
Months of Supply
1.3
Up 8%
Vs. Year Ago
Down -43%
Vs. Year Ago
No Change
Vs. Year Ago
Down -74%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Cumberland County, compared to 4.8 in March 2020. That is a decrease of 74% 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 13 homes newly listed for sale in Cumberland County compared to 12 in March 2020, an increase of 8%. There were 8 current contracts pending sale this March compared to 14 a year ago. The number of current contracts is 43% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Cumberland County was 97.9% 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 76, higher than the average last year, which was 66, an increase of 15%.

The Long & Foster Market Minute
*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 CVRMLS 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 CVRMLS or Long & Foster Real Estate, Inc.