Focus On: Elkridge Housing Market

Zip Code(s): 21075

June 2011
Median Sale Price
$310,000
400,000 350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

Units Sold
16
40 35 30 25 20 15 10 5 0

Active Inventory
153
180 160 140 120 100 80 60 40 20 0

Days On Market
49
140 120 100 80 60 40 20 0

J-09 O-09 F-10

J-10 O-10 F-11

J-11

J-09

O-09 F-10

J-10

O-10 F-11

J-11

J-09 O-09 F-10 J-10 O-10 F-11 J-11

J-09 O-09 F-10

J-10 O-10 F-11

J-11

Down Vs. Year Ago

Units Sold*
25 20 15 10 5 0
Sold Detached

Down -8% Vs. Year Ago

Up Vs. Year Ago

Up 2% Vs. Year Ago

Sold Attached

Sold Condo/ Coop

With relatively few transactions, there was a decrease in total units sold in June, with 16 sold this month in Elkridge. This month's total units sold was lower than at this time last year, a decrease from June 2010.

Units Sold

180 160 140 120

Active Detached

Active Inventory*
Active Attached

Active Condo/ Coop

Versus last year, the total number of homes available this month is lower by 14 units or 8%. The total number of active inventory this June was 153 compared to 167 in June 2010. This month's total of 153 is lower than the previous month's total supply of available inventory of 155, a decrease of 1%.

Active Inventory

100 80 60 40 20 0

Median Sale Price

350,000 300,000 250,000 200,000 150,000 100,000 50,000 0

Jun-10 $249,500

Jun-11 $310,000

Due to the relatively small number of units sold, the median sale price showed significant change this month. Last June, the median sale price for Elkridge Homes was $249,500. This June, the median sale price was $310,000, an increase of $60,500 compared to last year. The current median sold price is 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.

Median Sale Price

Elkridge are defined as properties listed in zip code/s 21075. *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Fosters knowledgeable and experienced sales associates. Information 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.

Focus On: Elkridge Housing Market

Zip Code(s): 21075

June 2011
Sold Vs. List Price
98.5%
100% 99% 98% 97% 96% 95% 94% 93%

New Listings
29
70 60 50 40 30 20 10 0

Current Contracts
24
45 40 35 30 25 20 15 10 5 0

Months of Supply
9.6
16 14 12 10 8 6 4 2 0

J-09 O-09 F-10

J-10 O-10 F-11

J-11

J-09

O-09 F-10

J-10

O-10 F-11

J-11

J-09 O-09 F-10 J-10 O-10 F-11 J-11

J-09 O-09 F-10

J-10 O-10 F-11

J-11

Down -49% Vs. Year Ago

Up 20% Vs. Year Ago

Up 0.9% Vs. Year Ago

Up 77% Vs. Year Ago

Months Of Supply
13.2

14 12
7.7

13.0

13.5

16

7.0

6.8

6.8

6.7

5.8

4.9

4.9

4.7

5.4

8 6 4 2 0

6.3

3.6

3.9

4.4

4.7

6.5

6.8

8.1

10

In June, there was 9.6 months of supply available in Elkridge, compared to 5.4 in June 2010. That is an increase of 78% 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.

Months of Supply

9.9

8.9

9.1

9.6

New Listings & Current Contracts

70
Number of New Listings

Total Pending

This month there were 29 homes newly listed for sale in Elkridge compared to 57 in June 2010, a decrease of 49%. There were 24 current contracts pending sale this June compared to 20 a year ago. The number of current contracts is 20% higher than last month.

New Listings & Current Contracts

60 50 40 30 20 10 0

Sale Price/ List Price & DOM

100% 99% 98% 97% 96% 95% 94% 93%
Avg Sale / Avg List Average DOM

140 120 100 80 60 40 20 0

In June, the average sale price in Elkridge was 98.5% of the average list price, which is 0.9% higher than at this time last year.

Sale Price to List Price Ratio

This month, the average number of days on market was 49, higher than the average last year, which was 48, an increase of 2%.

Days On Market

Elkridge are defined as properties listed in zip code/s 21075. *Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Fosters knowledgeable and experienced sales associates. Information 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.