The Long & Foster Market Minute

Focus On: Clinton, Brandywine, and Cheltenham Housing Market March 2021

Zip Code(s): 20735, 20613 and 20623
Units Sold
83
Active Inventory
44
Median Sale Price
$385,000
Days On Market
18
Up 8%
Vs. Year Ago
Down -73%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -59%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 83 sold this month in Clinton, Brandywine, and Cheltenham Real Estate versus 66 last month, an increase of 26%. 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 119 units or 73%. The total number of active inventory this March was 44 compared to 163 in March 2020. This month's total of 44 is lower than the previous month's total supply of available inventory of 67, a decrease of 34%.

Median Sale Price
Last March, the median sale price for Clinton, Brandywine, and Cheltenham Homes was $360,000. This March, the median sale price was $385,000, an increase of 7% or $25,000 compared to last year. 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
95
Current Contracts
97
Sold Vs. List Price
101.6%
Months of Supply
0.5
Down -2%
Vs. Year Ago
Up 11%
Vs. Year Ago
Up 1.3%
Vs. Year Ago
Down -75%
Vs. Year Ago

Months of Supply
In March, there was 0.5 months of supply available in Clinton, Brandywine, and Cheltenham, compared to 2.1 in March 2020. That is a decrease of 75% 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 95 homes newly listed for sale in Clinton, Brandywine, and Cheltenham compared to 97 in March 2020, a decrease of 2%. There were 97 current contracts pending sale this March compared to 87 a year ago. The number of current contracts is 11% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Clinton, Brandywine, and Cheltenham was 101.6% 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 18, lower than the average last year, which was 44, a decrease of 59%.

The Long & Foster Market Minute Clinton, Brandywine, and Cheltenham are defined as properties listed in zip code/s 20735, 20613 and 20623.
*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.