The Severn real estate market remains strongly slanted towards sellers this month with a 79% decrease in active listings over the same period in 2020. As a result of low inventory, newly under contract homes were down 27% while the average sold price is up almost 35%. Average days on market is also down substantially noted at 28 days. However, what we're seeing is that most homes will sell with multiple offers within 5 days on the market.
The demand for homes and decrease in inventory is bring out buyers with ample cash to offer optimal terms to sellers including paying cash over appraised value. Closing costs are rarely seen anymore as conventional buyers are ruling the market.
If you are a Severn homeowner and have been considering a move, this is a good time to capitalize on market conditions. Whether you are upsizing or downsizing it is very likely that your home will sell at or above current value in a matter of days.
The Roskelly Team at Berkshire Hathaway HomeServices specializes in homes for sale in Severn MD seller and buyer representation. Visit us on-line at www.FortMeadeHomes.com or give us a call at (410) 721-6694 today to buy, sell or rent a home in Severn MD. EHO
