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Elk Ridge

Elk Ridge

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Published by Ellie McIntire

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Published by: Ellie McIntire on Aug 25, 2011
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08/25/2011

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Focus On: Elkridge Housing Market

Zip Code(s): 21075

July 2011
Median Sale Price
$297,500
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
162
180 160 140 120 100 80 60 40 20 0

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

J-09 N-09 M-10 J-10 N-10 M-11 J-11

J-09

N-09 M-10 J-10

N-10 M-11 J-11

J-09 N-09 M-10 J-10 N-10 M-11 J-11

J-09 N-09 M-10 J-10 N-10 M-11 J-11

Down -33% Vs. Year Ago
Units Sold*
25 20 15 10 5 0
Sold Detached

No Change Vs. Year Ago

Down -7% Vs. Year Ago

Up 43% Vs. Year Ago

Sold Attached

Sold Condo/ Coop

The number of units sold remained stable in July, with 16 sold this month in Elkridge. This month's total units sold was lower than at this time last year, a decrease of 33% versus July 2010.

Units Sold

180 160 140 120

Active Detached

Active Inventory*
Active Attached

Active Condo/ Coop

The total number of homes available this month is 162 units, which is similar compared to a year ago. This month's total of 162 is higher than the previous month's total supply of available inventory of 159, an increase of 2%.

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

Jul-10 $319,600

Jul-11 $297,500

Last July, the median sale price for Elkridge Homes was $319,600. This July, the median sale price was $297,500, a decrease of 7% or $22,100 compared to last year. The current median sold price is 4% lower than in June.

Median Sale Price

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

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 & Foster’s 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

July 2011
Sold Vs. List Price
96.5%
100% 99% 98% 97% 96% 95% 94% 93%

New Listings
43
70 60 50 40 30 20 10 0

Current Contracts
26
45 40 35 30 25 20 15 10 5 0

Months of Supply
10.1
14 12 10 8 6 4 2 0

J-09 N-09 M-10 J-10 N-10 M-11 J-11

J-09

N-09 M-10 J-10

N-10 M-11 J-11

J-09 N-09 M-10 J-10 N-10 M-11 J-11

J-09 N-09 M-10 J-10 N-10 M-11 J-11

Down -31% Vs. Year Ago

Down -35% Vs. Year Ago
13.3

Down -1.7% Vs. Year Ago

Up Vs. Year Ago

13.2

Months Of Supply
12.9 9.9

14 12
7.7

10.1

6.8

6.8

7.0

6.7

5.8

6.3

4.9

4.7

5.4

8 6 4 2 0

3.6

3.9

4.4

4.7

6.4

6.7

8.0

10

In July, there was 10.1 months of supply available in Elkridge, compared to 6.8 in July 2010. That is an increase 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

8.9

9.0

9.9

New Listings & Current Contracts
70
Number of New Listings

Total Pending

This month there were 43 homes newly listed for sale in Elkridge compared to 62 in July 2010, a decrease of 31%. There were 26 current contracts pending sale this July compared to 40 a year ago. The number of current contracts is 35% lower 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 July, the average sale price in Elkridge was 96.5% of the average list price, which is 1.6% lower than at this time last year.

Sale Price to List Price Ratio

This month, the average number of days on market was 80, higher than the average last year, which was 56, an increase of 43%.

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 & Foster’s 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.

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