Thinking of buying or selling a home in Severn MD?  Let The Roskelly Team - Fort Meade area Real Estate help you keep your finger on the pulse of the real estate market.

December held steady with only a slight dip in sales volume. While we normally experience a pretty substantial slow down in December, we stayed steady all through the Holiday season.  It looks like we had a huge increase in days on market comparing to November but we actually saw some absorption of properties that had been on the market a while so that's a bit of a false indication in the stats.

Here's an overall snapshot of sales activity:

Total Sold Dollar Volume 14,893,789 up17.5% up2.2%
Closed Sales 43 down2.3% +4.9%
Median Sold Price $320,000 up2.9% -5.9%
Average Sold Price $346,367 up20.2% -2.5%
Median Days on Market 67 days up13.6% +148.2%
Average Days on Market 97 days up16.9% +61.7%
Median Price per Sq Foot $180 up5.9% -3.2%
Average Price per Sq Foot $181 up9.7% -1.1%

But if we break that down a little further using a 5 year average, we get a clearer picture of what's going on. Closed sales were up almost 30%.   Active listings are down almost 16% meaning buyers have fewer choices and sellers may be in a better bargaining position.

But most important is the overall picture of our inventory.  We have less than a 3 month supply of homes for sale in Severn and that also is an indication that we are in a seller's market.

Have questions?  Need information on buying a home or selling a home in or around Severn MD?  Contact us today for a free and confidential interview to see if we the right agents to represent you in Severn!