The Long & Foster Market Minute

Focus On: Sterling Housing Market June 2021

Zip Code(s): 20165, 20164 and 20166
Units Sold
195
Active Inventory
80
Median Sale Price
$532,000
Days On Market
7
Up
Vs. Year Ago
Down -14%
Vs. Year Ago
Up 17%
Vs. Year Ago
Down -50%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 195 sold this month in Sterling 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 13 units or 14%. The total number of active inventory this June was 80 compared to 93 in June 2020. This month's total of 80 is higher than the previous month's total supply of available inventory of 65, an increase of 23%.

Median Sale Price
Last June, the median sale price for Sterling Homes was $455,000. This June, the median sale price was $532,000, an increase of 17% or $77,000 compared to last year. The current median sold price is 4% 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
205
Current Contracts
167
Sold Vs. List Price
103.5%
Months of Supply
0.4
Up 27%
Vs. Year Ago
Up 17%
Vs. Year Ago
Up 3.1%
Vs. Year Ago
Down -41%
Vs. Year Ago

Months of Supply
In June, there was 0.4 months of supply available in Sterling, compared to 0.7 in June 2020. That is a decrease of 41% 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 205 homes newly listed for sale in Sterling compared to 162 in June 2020, an increase of 27%. There were 167 current contracts pending sale this June compared to 143 a year ago. The number of current contracts is 17% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Sterling was 103.5% of the average list price, which is 3.2% higher than at this time last year.

Days on Market
This month, the average number of days on market was 7, lower than the average last year, which was 14, a decrease of 50%.

The Long & Foster Market Minute Sterling are defined as properties listed in zip code/s 20165, 20164 and 20166.
*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.