The Long & Foster Market Minute

Focus On: Pasadena and Gibson Island Housing Market June 2021

Zip Code(s): 21122 and 21056
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 9%
Vs. Year Ago
Down -34%
Vs. Year Ago
Up 13%
Vs. Year Ago
Down -73%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 123 sold this month in Pasadena and Gibson Island Real Estate versus 138 last month, a decrease of 11%. This month's total units sold was higher than at this time last year, an increase of 9% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 39 units or 34%. The total number of active inventory this June was 75 compared to 114 in June 2020. This month's total of 75 is higher than the previous month's total supply of available inventory of 71, an increase of 6%.

Median Sale Price
Last June, the median sale price for Pasadena and Gibson Island Homes was $340,000. This June, the median sale price was $385,000, an increase of 13% or $45,000 compared to last year. The current median sold price is 7% 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
Current Contracts
Sold Vs. List Price
Months of Supply
Up 40%
Vs. Year Ago
Up 12%
Vs. Year Ago
Up 2.8%
Vs. Year Ago
Down -40%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in Pasadena and Gibson Island, compared to 1.0 in June 2020. That is a decrease of 40% 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 160 homes newly listed for sale in Pasadena and Gibson Island compared to 114 in June 2020, an increase of 40%. There were 136 current contracts pending sale this June compared to 121 a year ago. The number of current contracts is 12% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Pasadena and Gibson Island was 101.9% of the average list price, which is 2.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 8, lower than the average last year, which was 30, a decrease of 73%.

The Long & Foster Market Minute Pasadena and Gibson Island are defined as properties listed in zip code/s 21122 and 21056.
*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.