The Long & Foster Market Minute

Focus On: Western Maryland Housing Market June 2021

Units Sold
396
Active Inventory
422
Median Sale Price
$235,000
Days On Market
34
Up 14%
Vs. Year Ago
Down -50%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -61%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 396 sold this month in Western Maryland Real Estate versus 343 last month, an increase of 15%. This month's total units sold was higher than at this time last year, an increase of 14% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 426 units or 50%. The total number of active inventory this June was 422 compared to 848 in June 2020. This month's total of 422 is lower than the previous month's total supply of available inventory of 450, a decrease of 6%.

Median Sale Price
Last June, the median sale price for Western Maryland Homes was $225,000. This June, the median sale price was $235,000, an increase of 4% or $10,000 compared to last year. The current median sold price is 9% 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
429
Current Contracts
402
Sold Vs. List Price
100.5%
Months of Supply
1.1
Up 19%
Vs. Year Ago
Up 15%
Vs. Year Ago
Up 3.2%
Vs. Year Ago
Down -56%
Vs. Year Ago

Months of Supply
In June, there was 1.1 months of supply available in Western Maryland, compared to 2.5 in June 2020. That is a decrease of 57% 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 429 homes newly listed for sale in Western Maryland compared to 359 in June 2020, an increase of 19%. There were 402 current contracts pending sale this June compared to 350 a year ago. The number of current contracts is 15% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Western Maryland was 100.5% of the average list price, which is 3.1% higher than at this time last year.

Days on Market
This month, the average number of days on market was 34, lower than the average last year, which was 88, a decrease of 61%.

The Long & Foster Market Minute *Defined as the counties of Allegany, Garrett, and Washington in MD
*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.