The Long & Foster Market Minute

Focus On: Owings Mills Housing Market June 2021

Zip Code(s): 21117
Units Sold
119
Active Inventory
65
Median Sale Price
$325,000
Days On Market
9
Up
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 9%
Vs. Year Ago
Down -76%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 119 sold this month in Owings Mills 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 33 units or 34%. The total number of active inventory this June was 65 compared to 98 in June 2020. This month's total of 65 is higher than the previous month's total supply of available inventory of 57, an increase of 14%.

Median Sale Price
Last June, the median sale price for Owings Mills Homes was $299,450. This June, the median sale price was approximately the same at $325,000. The current median sold price is 9% higher than in June 2020.

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


New Listings
132
Current Contracts
110
Sold Vs. List Price
102.3%
Months of Supply
0.5
Up 76%
Vs. Year Ago
Up 57%
Vs. Year Ago
Up 4.1%
Vs. Year Ago
Down -57%
Vs. Year Ago

Months of Supply
In June, there was 0.5 months of supply available in Owings Mills, compared to 1.3 in June 2020. That is a decrease of 58% 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 132 homes newly listed for sale in Owings Mills compared to 75 in June 2020, an increase of 76%. There were 110 current contracts pending sale this June compared to 70 a year ago. The number of current contracts is 57% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Owings Mills was 102.3% of the average list price, which is 4.0% higher than at this time last year.

Days on Market
This month, the average number of days on market was 9, lower than the average last year, which was 37, a decrease of 76%.

The Long & Foster Market Minute Owings Mills are defined as properties listed in zip code/s 21117.
*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.