The Long & Foster Market Minute

Focus On: Ellicott City Housing Market March 2021

Zip Code(s): 21042 and 21043
Units Sold
86
Active Inventory
55
Median Sale Price
$547,500
Days On Market
25
Up 13%
Vs. Year Ago
Down -72%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -32%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 86 sold this month in Ellicott City 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 144 units or 72%. The total number of active inventory this March was 55 compared to 199 in March 2020. This month's total of 55 is lower than the previous month's total supply of available inventory of 64, a decrease of 14%.

Median Sale Price
Last March, the median sale price for Ellicott City Homes was $510,750. This March, the median sale price was $547,500, an increase of 7% or $36,750 compared to last year. The current median sold price is 17% 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
145
Current Contracts
144
Sold Vs. List Price
101.6%
Months of Supply
0.6
Down -22%
Vs. Year Ago
Up 23%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -76%
Vs. Year Ago

Months of Supply
In March, there was 0.6 months of supply available in Ellicott City, compared to 2.6 in March 2020. That is a decrease of 76% 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 145 homes newly listed for sale in Ellicott City compared to 185 in March 2020, a decrease of 22%. There were 144 current contracts pending sale this March compared to 117 a year ago. The number of current contracts is 23% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Ellicott City was 101.6% of the average list price, which is 2.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 25, lower than the average last year, which was 37, a decrease of 32%.

The Long & Foster Market Minute Ellicott City are defined as properties listed in zip code/s 21042 and 21043.
*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.