The Long & Foster Market Minute
Focus On: Arnold and Broadneck Housing Market March 2016
Zip Code(s): 21409 and 21012
Units Sold
64
Active Inventory
208
Median Sale Price
$344,950
Days On Market
76
Small Units Sold Small Active Inventory Small Median Sale Price Small Days on Market
Up
Vs. Year Ago
Down -23%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago
Units Sold
There was an increase in total units sold in March, with 64 sold this month in Arnold and Broadneck 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 61 units or 23%. The total number of active inventory this March was 208 compared to 269 in March 2015. This month's total of 208 is lower than the previous month's total supply of available inventory of 212, a decrease of 2%.

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Median Sale Price
Last March, the median sale price for Arnold and Broadneck Homes was $344,200. This March, the median sale price was $344,950, which is similar compared to a year ago. The current median sold price is 12% 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
121
Current Contracts
83
Sold Vs. List Price
97.9%
Months of Supply
3.3
Small New Listings Small Current Contracts Small Sold vs. List Price Small Months of Supply
Up 20%
Vs. Year Ago
Up 63%
Vs. Year Ago
Up 2.6%
Vs. Year Ago
Down -49%
Vs. Year Ago
Months of Supply
In March, there was 3.3 months of supply available in Arnold and Broadneck, compared to 6.4 in March 2015. That is a decrease of 49% 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 121 homes newly listed for sale in Arnold and Broadneck compared to 101 in March 2015, an increase of 20%. There were 83 current contracts pending sale this March compared to 51 a year ago. The number of current contracts is 63% higher than last March.

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Sale Price to List Price Ratio
In March, the average sale price in Arnold and Broadneck was 97.9% of the average list price, which is 2.5% higher than at this time last year.

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Days on Market
This month, the average number of days on market was 76, lower than the average last year, which was 92, a decrease of 17%.

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Arnold and Broadneck are defined as properties listed in zip code/s 21409 and 21012.
*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.