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||17.5%||2.2%|
|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!