• Links go to full, non-mobile site.
Follow Us on FacebookFollow Us on TwitterFollow Us on YouTubeFollow Us on LinkedIn

    News

    Market Trends: Cumberland County, May 2018

    The median sold price is up 13.6% year-to-date. Foreclosure sales were 22% of all sales this month, down from 33% in April, and had a median sale price of just $43,000 compared to $146,500 for non-foreclosure sales.


    Share it:
    Share Share Share Share

    While TREND does not have data on 100% of the listings in this County, we have enough to make these statistics representative of the County.

    Residential activity in Cumberland County (Single-family and Condo)


    Inventory

    Total Inventory
    May 2018
    715
    May 2017
    644
    800

    Inventory Accumulation
    May 2018
    6.5
    May 2017
    6.7
    8
    Inventory increased by 12 listings this month and is 11.0% higher than a year ago. The Months Supply of Inventory decreased from 6.7 months last month to 6.5 in May, compared to 6.7 months last year.

    Settled Listings

    May Settled Listings
    May 2018
    133
    May 2017
    80
    200

    Year-to-date Settled Listings
    May 2018
    520
    May 2017
    366
    600
    Sales this month were 66.3% higher than last year and are up 42.1% year-to-date.

    Median Price

    May Median Price
    May 2018
    $136,500
    May 2017
    $137,500
    $150,000

    Year-to-date Median Price
    May 2018
    $125,000
    May 2017
    $110,012
    $150,000
    The median sold price in Cumberland County was up down 0.7% compared to a year ago but is up 13.6% year-to-date.

    Settled Price / Original Price

    May Settled Price / Original Price
    May 2018
    95.3%
    May 2017
    94.2%
    100

    Year-to-date Settled Price / Original Price
    May 2018
    94.5%
    May 2017
    93.0%
    100
    The sold price to original list price ratio was at 95.3% in May and 94.5% year-to-date. The sale price to list price ratio in May was 97.68.5%.

    See even more statistics like these in the following reports:


    Average Showing Appointments Per Listing by Price Range

    All Listings
    2.5
    $0k - $99k
    3.1
    $100k - $199k
    2.4
    $200k - $299k
    2.1
    $300k - $499k
    1.5
    $500k +
    0.25
    4
    Appointments were up 2% compared to last month and up 105% compared to last May.
    See even more buyer activity in the following report:



    What's happening in TREND's Market?


    Low inventory continues to impact the TREND regional housing market. In May the median property marketing period was just 21 days, the shortest tome on market of any month in the past 10 years. Half of all homes sold in May were on the market for 3 weeks or less and sold for 99.1% of the List Price, another 10-year record for any month. The low inventory also keeps prices moving upward and the median sold price was the highest in May in 10 years. And, although sales were 1.5% below last May, they were the second highest number of sales in May in the last 10 years.

    Settled Listings
    Category May 2017 May 2018 Change
    Residential 8,840 8,707 -1.5%
    Lots, Land and Farms 160 171 6.9%
    Multi-Family 270 248 -8.2%
    Commercial 183 156 -14.8%
    Sales in the TREND region were down 1.5% compared to last May, while Cumberland County sales were up 66.3%. Year-to-date sales in TREND are down 0.2% and Cumberland County is up 42.1% from 2017.
    Median Price
    Category May 2017 May 2018 Change
    Residential $225,000 $226,000 0.4%
    Lots, Land and Farms $70,000 $160,000 128.6%
    Multi-Family $146,450 $195,000 33.2%
    Commercial $115,000 $57,000 -50.4%
    The median sold price throughout the TREND region was up 0.4% from last May, while Cumberland County was down 0.7%. Year-to-date the median sold price in TREND is up 2.7% while Cumberland County is up 13.6%.


    Share it:
    Share Share Share Share



    0 Comments
    How Can We Help?
    Support Center
    Mon. - Fri. 8:00 AM - 8:00 PM
    Sat. - Sun. 9:00 AM - 6:00 PM
    Phone: 1-844-55-BRIGHT
    (1-844-552-7444)
    Fax: 610-783-4699
    Email: Send us an email
     
    Payments:
    Bright MLS
    P.O. Box 37093
    Baltimore, MD 21297-3093