The Long & Foster Market Minute
Focus On: Anne Arundel County Housing Market March 2016
Units Sold
695
Active Inventory
2,649
Median Sale Price
$300,000
Days On Market
77
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -16%
Vs. Year Ago
No Change
Vs. Year Ago
Down -9%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 695 sold this month in Anne Arundel County Real Estate. This month's total units sold was higher than at this time last year.

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Active Inventory
Versus last year, the total number of homes available this month is lower by 498 units or 16%. The total number of active inventory this March was 2,649 compared to 3,147 in March 2015. This month's total of 2,649 is higher than the previous month's total supply of available inventory of 2,594, an increase of 2%.

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Median Sale Price
Last March, the median sale price for Anne Arundel County Homes was $300,000. This March, the median sale price was $300,000, which is similar compared to a year ago. The current median sold price is 7% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

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New Listings
1,400
Current Contracts
1,032
Sold Vs. List Price
97.9%
Months of Supply
3.8
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 18%
Vs. Year Ago
Up 35%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -28%
Vs. Year Ago
Months of Supply
In March, there was 3.8 months of supply available in Anne Arundel County, compared to 5.3 in March 2015. That is a decrease of 28% 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.

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New Listings & Current Contracts
This month there were 1,400 homes newly listed for sale in Anne Arundel County compared to 1,182 in March 2015, an increase of 18%. There were 1,032 current contracts pending sale this March compared to 763 a year ago. The number of current contracts is 35% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Anne Arundel County was 97.9% of the average list price, which is 0.7% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 77, lower than the average last year, which was 85, a decrease of 9%.

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*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 MRIS 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 MRIS or Long & Foster Real Estate, Inc.