The Long & Foster Market Minute

Focus On: Laurel Housing Market June 2021

Zip Code(s): 20707, 20708, 20723 and 20724
Units Sold
199
Active Inventory
74
Median Sale Price
$425,000
Days On Market
10
Up
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 18%
Vs. Year Ago
Down -52%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 199 sold this month in Laurel 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 38 units or 34%. The total number of active inventory this June was 74 compared to 112 in June 2020. This month's total of 74 is lower than the previous month's total supply of available inventory of 84, a decrease of 12%.

Median Sale Price
Last June, the median sale price for Laurel Homes was $359,900. This June, the median sale price was $425,000, an increase of 18% or $65,100 compared to last year. The current median sold price is 4% 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
199
Current Contracts
186
Sold Vs. List Price
102.4%
Months of Supply
0.4
Up 39%
Vs. Year Ago
Up 32%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -65%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Laurel, compared to 1.0 in June 2020. That is a decrease of 64% 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 199 homes newly listed for sale in Laurel compared to 143 in June 2020, an increase of 39%. There were 186 current contracts pending sale this June compared to 141 a year ago. The number of current contracts is 32% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Laurel was 102.4% of the average list price, which is 2.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 10, lower than the average last year, which was 21, a decrease of 52%.

The Long & Foster Market Minute Laurel are defined as properties listed in zip code/s 20707, 20708, 20723 and 20724.
*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.