The Long & Foster Market Minute

Focus On: McNair Farms and Franklin Farms Housing Market June 2021

Zip Code(s): 20171
Units Sold
89
Active Inventory
55
Median Sale Price
$660,111
Days On Market
9
Up
Vs. Year Ago
Up 34%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 89 sold this month in McNair Farms and Franklin Farms 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 higher by 14 units or 34%. The total number of active inventory this June was 55 compared to 41 in June 2020. This month's total of 55 is lower than the previous month's total supply of available inventory of 56, a decrease of 2%.

Median Sale Price
Last June, the median sale price for McNair Farms and Franklin Farms Homes was $616,250. This June, the median sale price was $660,111, an increase of 7% or $43,861 compared to last year. The current median sold price is 2% 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
101
Current Contracts
89
Sold Vs. List Price
103.1%
Months of Supply
0.6
Up 66%
Vs. Year Ago
Up 37%
Vs. Year Ago
Up 3.1%
Vs. Year Ago
Down -14%
Vs. Year Ago

Months of Supply
In June, there was 0.6 months of supply available in McNair Farms and Franklin Farms, compared to 0.7 in June 2020. That is a decrease of 14% 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 101 homes newly listed for sale in McNair Farms and Franklin Farms compared to 61 in June 2020, an increase of 66%. There were 89 current contracts pending sale this June compared to 65 a year ago. The number of current contracts is 37% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in McNair Farms and Franklin Farms was 103.1% 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 9, lower than the average last year, which was 14, a decrease of 36%.

The Long & Foster Market Minute McNair Farms and Franklin Farms are defined as properties listed in zip code/s 20171.
*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.