The Long & Foster Market Minute

Focus On: Allegany County Housing Market June 2021

Units Sold
90
Active Inventory
120
Median Sale Price
$145,200
Days On Market
58
Up 18%
Vs. Year Ago
Down -52%
Vs. Year Ago
Up 25%
Vs. Year Ago
Down -43%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 90 sold this month in Allegany County Real Estate versus 85 last month, an increase of 6%. This month's total units sold was higher than at this time last year, an increase of 18% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 131 units or 52%. The total number of active inventory this June was 120 compared to 251 in June 2020. This month's total of 120 is lower than the previous month's total supply of available inventory of 132, a decrease of 9%.

Median Sale Price
Last June, the median sale price for Allegany County Homes was $116,000. This June, the median sale price was $145,200, an increase of $29,200 compared to last year. The current median sold price is higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
88
Current Contracts
88
Sold Vs. List Price
97.7%
Months of Supply
1.3
Down -3%
Vs. Year Ago
Up 26%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -60%
Vs. Year Ago

Months of Supply
In June, there was 1.3 months of supply available in Allegany County, compared to 3.3 in June 2020. That is a decrease of 60% 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 88 homes newly listed for sale in Allegany County compared to 91 in June 2020, a decrease of 3%. There were 88 current contracts pending sale this June compared to 70 a year ago. The number of current contracts is 26% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Allegany County was 97.7% of the average list price, which is 1.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 58, lower than the average last year, which was 101, a decrease of 43%.

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 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.