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:
| Statistic | Dec | YoY | MoM |
|---|---|---|---|
| Total Sold Dollar Volume | 14,893,789 | 17.5% | 2.2% |
| Closed Sales | 43 | 2.3% | 4.9% |
| Median Sold Price | $320,000 | 2.9% | 5.9% |
| Average Sold Price | $346,367 | 20.2% | 2.5% |
| Median Days on Market | 67 days | 13.6% | 148.2% |
| Average Days on Market | 97 days | 16.9% | 61.7% |
| Median Price per Sq Foot | $180 | 5.9% | 3.2% |
| Average Price per Sq Foot | $181 | 9.7% | 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!
