The Long & Foster Market Minute

Focus On: Talbot County Housing Market June 2021

Units Sold
71
Active Inventory
127
Median Sale Price
$399,900
Days On Market
39
Down -9%
Vs. Year Ago
Down -51%
Vs. Year Ago
Down -15%
Vs. Year Ago
Down -66%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 71 sold this month in Talbot County Real Estate versus 79 last month, a decrease of 10%. This month's total units sold was lower than at this time last year, a decrease of 9% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 131 units or 51%. The total number of active inventory this June was 127 compared to 258 in June 2020. This month's total of 127 is higher than the previous month's total supply of available inventory of 125, an increase of 2%.

Median Sale Price
Last June, the median sale price for Talbot County Homes was $472,500. This June, the median sale price was $399,900, a decrease of 15% or $72,600 compared to last year. The current median sold price is 11% lower 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
96
Current Contracts
80
Sold Vs. List Price
95.1%
Months of Supply
1.8
No Change
Vs. Year Ago
Down -37%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -46%
Vs. Year Ago

Months of Supply
In June, there was 1.8 months of supply available in Talbot County, compared to 3.3 in June 2020. That is a decrease of 46% 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 96 homes newly listed for sale in Talbot County, which is similar to the amount in June 2020. There were 80 current contracts pending sale this June compared to 126 a year ago. The number of current contracts is 37% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Talbot County was 95.1% of the average list price, which is 1.5% higher than at this time last year.

Days on Market
This month, the average number of days on market was 39, lower than the average last year, which was 114, a decrease of 66%.

The Long & Foster Market Minute
*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.