The Long & Foster Market Minute

Focus On: Hagerstown Housing Market March 2021

Zip Code(s): 21740 and 21742
Units Sold
121
Active Inventory
112
Median Sale Price
$228,500
Days On Market
36
Up 20%
Vs. Year Ago
Down -64%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -56%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 121 sold this month in Hagerstown Real Estate versus 100 last month, an increase of 21%. This month's total units sold was higher than at this time last year, an increase of 20% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 195 units or 64%. The total number of active inventory this March was 112 compared to 307 in March 2020. This month's total of 112 is lower than the previous month's total supply of available inventory of 148, a decrease of 24%.

Median Sale Price
Last March, the median sale price for Hagerstown Homes was $200,000. This March, the median sale price was $228,500, an increase of 14% or $28,500 compared to last year. The current median sold price is 12% 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
153
Current Contracts
163
Sold Vs. List Price
99.4%
Months of Supply
0.9
Up 13%
Vs. Year Ago
Up 57%
Vs. Year Ago
Up 0.9%
Vs. Year Ago
Down -69%
Vs. Year Ago

Months of Supply
In March, there was 0.9 months of supply available in Hagerstown, compared to 3.0 in March 2020. That is a decrease of 70% 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 153 homes newly listed for sale in Hagerstown compared to 135 in March 2020, an increase of 13%. There were 163 current contracts pending sale this March compared to 104 a year ago. The number of current contracts is 57% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Hagerstown was 99.4% of the average list price, which is 0.9% higher than at this time last year.

Days on Market
This month, the average number of days on market was 36, lower than the average last year, which was 82, a decrease of 56%.

The Long & Foster Market Minute Hagerstown are defined as properties listed in zip code/s 21740 and 21742.
*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.