Eastern Shore MD/DE Area - Reports - Long and -...

12
87 May 2018 | longandfoster.com

Transcript of Eastern Shore MD/DE Area - Reports - Long and -...

87

May 2018 | longandfoster.com

-2%

1%

5%

3%

4%

11%

3%

0%

7%

2%

4%

5%

13%

8%

5%

9%

5%

8%

4% 3% 4%

12%

12%

2% 2%

-5%

0%

5%

10%

15%

Median Sale PricePercent Change Year/Year

88

$226

,000

$232

,000

$242

,000

$234

,300

$238

,625

$250

,000

$236

,500

$240

,000

$235

,000

$217

,500

$233

,950

$250

,000

$255

,000

$250

,000

$254

,325

$255

,000

$250

,000

$270

,000

$245

,000

$247

,900

$244

,000

$244

,500

$261

,500

$255

,000

$259

,950

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

Median Sales Price

$300

,000

$250

,000

$164

,900

$344

,400

$275

,000

$305

,000

$251

,250

$172

,501

$344

,500

$315

,000

$0

$200,000

$400,000

$600,000

$800,000

SussexCounty

WorcesterCounty

WicomicoCounty

Queen AnnesCounty

TalbotCounty

Median Sale PriceOf Top Five Counties/Cities Based on Total Units Sold

One Year Ago Current Month

Highlights

This May, the median sale price was $259,950, an increase of 2% compared to April.

The current median sale price was 2% higher than in May 2017.

Eastern Shore MD/DE Area - May 2018

5%

8%

-3%

0%

19%

-1%

11%

11%

8%

7%

42%

15% 19

%

12%

7%

14%

-4%

6%

13%

0%

2%

-9%

-1%

-2%

-8%

-20%

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

Total Units SoldPercent Change Year/Year

89

941 1,02

2

882

904 1,

002

921

760

901

638

614

964 99

9 1,11

8

1,14

8

948 1,03

0

965

978

856 89

7

649

559

953

981

1,03

4

0

200

400

600

800

1,000

1,200

1,400

Total Units Sold

474

263

119

82 71

427

234

111

88

51

0

100

200

300

400

500

SussexCounty

WorcesterCounty

WicomicoCounty

Queen AnnesCounty

TalbotCounty

Total Units SoldOf Top Five Counties/Cities Based on Total Units Sold

One Year Ago Current Month

Highlights

There was an increase of 5% in total units sold in May compared to April.

This month's total units sold was lower than at this time last year, a decrease of 8% versus May 2017.

Eastern Shore MD/DE Area - May 2018

90

0

200

400

600

800

1,000

1,200

1,400

Total Units Sold by Type

Detached Attached Condo

721 70%

185 18%

128 12%

Total Units Sold by TypeCurrent Month

Detached Attached Condo

16015%

45644%

24624%

808%

929%

Total Units Sold by Price RangeCurrent Month

< 150K 150K to < 300K 300K to < 450K450K to < 600K 600K and up

0

100

200

300

400

500

600

Total Units Sold by Price Range

< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up

Eastern Shore MD/DE Area - May 2018

-6%

-9%

-11%

-12%

-13%

-13%

-13%

-13%

-13% -1

2%

-14%

-14%

-15%

-16%

-16% -16% -15% -15%

-15% -1

4%

-15%

-15% -1

5% -13%

-14%

-25%

-20%

-15%

-10%

-5%

0%

5%

Total Active InventoryPercent Change Year/Year

91

7,84

6

7,81

6

7,72

2

7,62

0

7,50

0

7,25

5

6,89

5

6,36

4

6,26

2

6,40

9

6,52

9

6,64

4

6,68

9

6,60

3

6,45

7

6,41

1

6,35

7

6,18

6

5,88

5

5,48

0

5,31

6

5,42

4

5,58

0

5,75

0

5,76

4

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Total Active Inventory

3,02

5

1,23

5

401

478

518

2,62

1

1,09

6

356

390

454

0500

1,0001,5002,0002,5003,0003,5004,000

SussexCounty

WorcesterCounty

WicomicoCounty

Queen AnnesCounty

TalbotCounty

Total Active InventoryOf Top Five Counties/Cities Based on Total Units Sold

One Year Ago Current Month

Highlights

This month's supply of available inventory remained relatively stable compared to last month.

Versus May 2017, the total number of homes available was lower by 925 units or 14%.

Eastern Shore MD/DE Area - May 2018

92

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Total Active Inventory by TypeDetached Attached Condo

4,303 75%

857 15%

604 10%

Total Active Inventory by TypeCurrent Month

Detached Attached Condo

695 12%

1,899 33%

1,543 27%

647 11%

980 17%

Total Active Inventory by Price RangeCurrent Month

< 150K 150K to < 300K 300K to < 450K

450K to < 600K 600K and up

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

Total Active Inventory by Price Range

< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up

Eastern Shore MD/DE Area - May 2018

93

95.7

%

96.1

%

96.5

%

96.5

%

96.1

%

96.2

%

96.4

%

96.9

%

95.8

%

95.9

%

96.8

%

96.8

%

96.8

%

96.7

%

96.2

%

96.9

%

96.6

% 96.8

%

96.8

%

97.4

%

96.3

%

97.0

%

97.0

%

97.4

% 97.7

%

94.5%

95.0%

95.5%

96.0%

96.5%

97.0%

97.5%

98.0%

Average Sale Price as a Percent of List Price

98.5

%

95.6

%

97.0

%

96.7

%

91.1

%

99.1

%

95.5

% 98.3

%

98.3

%

96.3

%

86.0%88.0%90.0%92.0%94.0%96.0%98.0%

100.0%

SussexCounty

WorcesterCounty

WicomicoCounty

Queen AnnesCounty

TalbotCounty

Sale Price as % of List PriceOf Top Five Counties/Cities Based on Total Units Sold

One Year Ago Current Month

Days on MarketCurrentMonth

One YearAgo

105 124

Down -15% Vs. Year Ago

139

143

130

114

124127

129127

132

138

130

124 124

113 114

103

131

108

112

106

113 114

122

112

105

100

110

120

130

140

150

160Days on Market

86%

88%

90%

92%

94%

96%

98%

100%

102%

104%

Average Sale Price as a Percent of List Price by Price Range

< 150K 150K to < 300K 300K to < 450K 450K to < 600K 600K and up

Avg Sale Price as % of List PriceCurrentMonth

One YearAgo

97.7% 96.8%

Up 0.9% Vs. Year Ago

Eastern Shore MD/DE Area - May 2018

94

$270

,763

$307

,387

$260

,921

$255

,347 $3

02,3

57

$296

,714

$223

,362 $2

85,3

64

$192

,636

$185

,401

$288

,429

$309

,720 $3

72,6

54

$360

,751

$295

,111

$315

,925

$315

,121

$335

,400

$259

,156

$294

,872

$208

,609

$166

,544

$329

,128

$324

,691

$335

,045

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

Total Dollar Volume SoldIn Thousands

Total Dollar Volume SoldCurrentMonth

One YearAgo

$335,044,620 $372,654,369

Down -10% Vs. Year Ago

Months of SupplyCurrentMonth

One YearAgo

5.6 6.0

Down -7% Vs. Year Ago

8.3

7.7

8.8

8.4

7.5 7.

9

9.1

7.1

9.8 10

.4

6.8

6.7

6.0

5.8

6.8

6.2 6.

6

6.3 6.

9

6.1

8.2

9.7

5.9

5.9

5.6

0

1

2

3

4

5

6

7

8

9

10

11

Months of SupplyCurrent Month's Active Inventory/Current Month's Unit Sales

Highlights

Total volume sold this May was 10% less than the same month one year ago.

In May, there was 5.6 months of supply available, compared to 6.0 in May 2017. That was a decrease of 7% versus a year ago.

Eastern Shore MD/DE Area - May 2018

95

Highlights

Based on this month's amount of new listings and new contracts, the ratio of home supply (new listings) to current home demand (new contracts) was 1.4, a decrease of 11% from May 2017.

915

919

951 99

0

854

840

734

630 71

7

919

1,16

6

1,03

1

1,03

4

1,06

1

983 99

3

955

887

780

578

769 89

4 1,08

6

1,04

3

1,15

7

1,54

3

1,44

4

1,36

0

1,39

1

1,24

4

1,23

9

877

697

1,08

8

1,38

8

1,66

2

1,49

7

1,57

1

1,45

3

1,25

9 1,37

8

1,28

7

1,16

3

1,01

3

727

1,05

0

1,26

6

1,60

0

1,54

3

1,56

3

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

New Listings & New ContractsNew Contracts (Under Active Contract Status) New Listings

New ListingsCurrent Month

One Year Ago

1,563 1,571

Down -1% Vs. Year Ago

New ContractsCurrent Month

One Year Ago

1,157 1,034

Up 12% Vs. Year Ago

1.71.6

1.4 1.4 1.5 1.5

1.21.1

1.5 1.51.4 1.5

1.5

1.41.3

1.4 1.3 1.3 1.3 1.31.4 1.4 1.5 1.5

1.4

0.0

0.5

1.0

1.5

2.0

Supply/Demand RatioNumber of New Listings to New Contracts

651

262

154

141

131

657

286

147

148

94

0

200

400

600

800

SussexCounty

WorcesterCounty

WicomicoCounty

Queen AnnesCounty

TalbotCounty

New ListingsOf Top Five Counties/Cities Based on Total Units Sold

One Year Ago Current Month

420

193

117

102

59

514

232

99 102

71

0

100

200

300

400

500

600

SussexCounty

WorcesterCounty

WicomicoCounty

Queen AnnesCounty

TalbotCounty

New ContractsOf Top Five Counties/Cities Based on Total Units Sold

One Year Ago Current Month

Eastern Shore MD/DE Area - May 2018

96

References & Definitions WASHINGTON D.C. METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: District of Columbia; Arlington, Clarke, Fairfax, Fauquier, Loudoun, Prince William, Spotsylvania, Stafford, Warren Counties and Alexandria, Fairfax, Falls Church, Fredericksburg, Manassas, Manassas Park Cities in Virginia; Calvert, Charles, Prince George’s, Frederick, Montgomery Counties in Maryland; Jefferson County in West Virginia. BALTIMORE METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: Anne Arundel, Baltimore, Carroll, Harford, Howard, and Queen Anne’s Counties and Baltimore City in Maryland. RICHMOND METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Data for all counties except for Caroline County (Virginia) is supplied by Central Virginia Regional MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Data for Caroline County data based on Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: Amelia, Caroline, Charles City, Chesterfield, Cumberland, Dinwiddie, Goochland, Hanover, Henrico, King and Queen, King William, Louisa, New Kent, Powhatan, Prince George, and Sussex Counties and Colonial Heights, Hopewell, Petersburg, and Richmond Cities in Virginia. PHILADELPHIA METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by TREND MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: Bucks, Chester, Delaware, Montgomery, and Philadelphia Counties in Pennsylvania and Gloucester, Camden, Burlington, and Mercer in New Jersey. THE TRIANGLE NORTH CAROLINA AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the Triangle MLS and its and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties include in this area are: Alamance, Chatham, Durham, Franklin, Granville, Harnett, Johnston, Orange, and Wake in North Carolina.

Analysis dates for all regions: May 1, 2016 through May 31, 2018.

97

References & Definitions CHARLOTTESVILLE AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by CAAR MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: City of Charlottesville and Albemarle, Buckingham, Fluvanna County, Greene County and Nelson counties in Virginia. HAMPTON ROADS AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Data for all counties except for Gloucester and Mathews Counties in Virginia is supplied by Real Estate Information Network MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Data for Gloucester and Mathews Counties is supplied by Chesapeake Bay & Rivers MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: Gloucester, Isle of Wight, James City, Mathews, Surry, and York Counties and Chesapeake, Hampton, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, and Williamsburg Cites in Virginia; Currituck County in North Carolina. ROANOKE METROPOLITAN AREA: LISTING SOURCE, REPORTING AREA & DEFINITION Based on data supplied by Roanoke Valley Association of REALTORS (RVAR) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace as some brokerages choose not to provide transaction information. This may result in an understatement of completed sales and available listings. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of RVAR or Long & Foster Real Estate, Inc. Counties & cities included in this area are: Botetourt, Craig, Franklin, and Roanoke Counties and Roanoke and Salem Cities in Virginia. WILMINGTON, DE AREA: LISTING SOURCE, REPORTING AREA & DEFINITION Data for Kent and New Castle Counties in Delaware and Salem County in New Jersey supplied by TREND MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Data for Cecil and Kent Counties in Maryland is supplied by Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities included in this area are: Kent and New Castle Counties in Delaware, Cecil and Kent Counties in Maryland, and Salem County in New Jersey. EASTERN SHORE MD/DE AREA: LISTING SOURCE, REPORTING AREA, & DEFINITION Data for Caroline, Dorchester, Kent, Queen Anne’s, and Talbot, Counties in Maryland is supplied by Metropolitan Regional Information Systems (MRIS) and its member Association(s) of REALTORS. Data for Sussex County, Delaware is supplied by SCAOR and its member Association(s) of REALTORS. Data for Somerset, Wicomico, and Worcester Counties in Maryland is supplied by Coastal MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Counties & cities include in this area are: Caroline, Dorchester, Kent, Queen Anne’s, Somerset, Talbot, Wicomico, and Worcester Counties In Maryland and Sussex County in Delaware.

Analysis dates for all regions: May 1, 2016 through May 31, 2018.

98

Contacts & Disclaimers MEDIA CONTACT Vicki Bendure, Bendure Communications Email: [email protected] Phone: (540) 687-3360 CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS®. No representation, expressed or implied should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. “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. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS.