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Severna Park MD Market Statistics - February 2010

As you can see, in most real estate sales categories, Severna Park MD did not do well comparing February, 2010 to February, 2009.

Sales volume and units sold decreased -35% and -28% respectively. The base is low, making it difficult to determine an accurate market assessment based on units alone. While the decrease year over year was significant, Severna Park typically sells around 20 homes per month, on average. Winter months are always difficult to project because of severe weather fluctuations and relatively low number of sales. February of 2010 had two major snow storms which affected real estate in the entire county.

Several other indicators can help to see what's going on in the Severna Park, MD real estate market. The average days on market decreased -36% year over year. On average, in February 2010, Severna Park MD homes for sale were taking about three months. This is a significant indicator and shows the market giving the advantage to the seller. The average list price for homes sold also decreased by -18%.

Another significant data point is the Average Sale Price as a % of Average List Price. Higher percentages favor sellers. As you can see there was a large increase in this indicator year over year. Severna Park, MD has never been a bargain basement home sale market.

Average sold and median prices showed significant decreases. This could be reflective of lower priced homes being placed on the market and sold, since the average list price was down over $100K from last year.

As the year progresses, Severna Park, MD should beging to show normal and sustainable increases year over year.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Severna Park MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Severna Park, MD 21146 Housing Inventory

If you're searching for a home in Severna Park, MD, you have a wide variety of homes to choose from in many upper price ranges. Severna Park, MD is one of the choice destination communities in Anne Arundel County, Maryland.

Severna Park, MD has a number of excellent homes to choose from if you're relocating into the area as a result of the Base Realignment and Closing initiative, BRAC.

If you're not already working with a Realtor, I can help you find the perfect Severna Park home.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Severna Park MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Severna Park MD Foreclosures

Severna Park MD Bank Owned Properties - 02/21/10

If you're interested in seeing a Severn MD foreclosure, I can help.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Severna Park MD Market Statistics - January 2010

As you can see, in most real estate sales categories, Severna Park MD did extremely well comparing January, 2010 to January, 2009.

Sales volume and units sold increased 135% and 171% respectively. The base is low, making it difficult to determine an accurate market assessment based on units alone. While the increase year over year was significant, Severna Park typically sells around 20 homes per month, on average. Winter months are always difficult to project because of severe weather fluctuations and relatively low number of sales.

Several other indicators can help to see what's going on in the Severna Park, MD real estate market. The average days on market decreased -16% year over year. On average, in January 2010, Severna Park MD homes for sale were taking about six months. Not great but the decreasing indicator shows that the market is beginning to trend towards sellers. The average list price for homes sold also decreased slightly at -13%.

Another significant data point is the Average Sale Price as a % of Average List Price. Higher percentages favor sellers. As you can see there was a slight increase in this indicator year over year. Severna Park, MD has never been a bargain basement home sale market.

Average sold and median prices showed significant decreases. This could be reflective of lower priced homes being sold since the average list price was down over $100K from last year.

Nobody is going to dispute that the Severna Park MD real estate statistics for January, 2010 were fantastic. Sustainable, is another story. As the year progresses, Severna Park, MD should beging to show normal and sustainable increases year over year.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Severna Park MD Real Estate - Status for Week Ending 01/30/10

Severna Park, MD added eight new active listings to the current inventory last week. The least expensive was a 3/2 rancher in the Riverdale Forest section. The most expensive listing was a 4 bedroom, 3 bath Cape Cod waterfront on an acre of land. Oh yeah, the price for this one, if you're interested, is $1,400,000.

Severna Park, MD is not a big rental market but a new rental listing in McKinsey Park came active.

4  properties moved or changed status into some sort of Contract status, while 7 sold and went to settlement. Same as last week. The contract status changes tends to be a future indicator of settlements to come in the near future.

If you're looking to purchase or sell a home in Severna Park, MD or the surrounding area, I can help.

The local Multiple Listing Service (MRIS) uses the following status types to indicate a property's availability:

• ACTIVE: Indicates that the property is available with no contingencies, contract or application registered against it.
• CNTG/KO: (Contingent with Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency that includes a kick out clause.
• CNTG/NO KO: (Contingent with No Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.
• APP REG: (Application Registered) - Indicates that the property is available but a rental application has been registered on it.
• CONTRACT: - Indicates that the property has a ratified contract with no pending contingencies. If the only remaining contingency is financing the status should be contract.
• SOLD: - Indicates that the property is sold and settled.
• RENTED: - Indicates that the property has been rented.
• TEMPORARY OFF: - Indicates that the property is not available for showing. This status is for short term use and must have seller approval.
• EXPIRED: - Indicates that the listing agreement has expired.
• WITHDRAWN: - Indicates that the listing agreement has been terminated prior to its original date.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Severna Park MD Real Estate - Status for Week Ending 01/23/10

Severna Park, MD added fourteen new active listings to the current inventory last week. The least expensive was a 3/2 rancher int eh Riverdale section. If you're looking for a 3/2 rancher in the water oriented Manhattan Beach section, you're going to have to pony up $749,900. At least, thats the beginning asking price.

Severna Park, MD is not a big rental market and nothing that happened last week changed that. No new rentals and not rentals went off the market.

4  properties moved or changed status into some sort of Contract status, while 7 sold and went to settlement. The contract status changes tends to be a future indicator of settlements to come in the near future.

If you're looking to purchase or sell a home in Severna Park, MD or the surrounding area, I can help.

The local Multiple Listing Service (MRIS) uses the following status types to indicate a property's availability:

• ACTIVE: Indicates that the property is available with no contingencies, contract or application registered against it.
• CNTG/KO: (Contingent with Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency that includes a kick out clause.
• CNTG/NO KO: (Contingent with No Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.
• APP REG: (Application Registered) - Indicates that the property is available but a rental application has been registered on it.
• CONTRACT: - Indicates that the property has a ratified contract with no pending contingencies. If the only remaining contingency is financing the status should be contract.
• SOLD: - Indicates that the property is sold and settled.
• RENTED: - Indicates that the property has been rented.
• TEMPORARY OFF: - Indicates that the property is not available for showing. This status is for short term use and must have seller approval.
• EXPIRED: - Indicates that the listing agreement has expired.
• WITHDRAWN: - Indicates that the listing agreement has been terminated prior to its original date.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved

Severna Park MD, 21146

Severna Park, MD has shown a sales trend that we haven't seen in many communities in Anne Arundel County. Like Severna Park, most communities in Anne Arundel County have shown pretty significant sales increases in November 2009, compared to November 2008. However, other communities seem to be drawing their increases from first time home buyers. Severna Park on the other hand generated most of the home sales in the above $300K price range. It is also one of the few communities where the median sold price increased 2009 over 2008. First time home buyers in the rest of the county drove median sold prices down.

More than doubling the number of Severna Park, MD homes sold in November 2008 was significant, especially since first time home buyers weren't the main cause.

18 new listings were created in November, 2009 and 28 units sold, reducing the inventory.

The days on the market to sell a listing did increase by +7.25%, or 10 additional day on average.

Severna Park, MD outperformed in November, 2009 without the help of first time home buyers. Quite an accomplishment.

If you're not already working with a Realtor® to find that perfect Severna Park, MD home, I can help. Call me at 443-995-9595 any time.

SOURCE: Metropolitan Regional Information Systems, Inc.
Information deemed reliable, but is not guaranteed.

If you're SEARCHING for a home anywhere in Maryland, click here to view ALL ACTIVE LISTINGS.

Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114

410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com

Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist

©2009 - RichSellsHomes, All Rights Reserved