Severn MD Market Statistics - January 2010
Compared to 2009, January 2010 Severn MD real estate home sales showed a downtrend in most categories.
While sales volume decreased slightly at -1.30%, the number of units sold increased +16.67%. This is an indicator that more homes were selling in the lower price categories. The base for home sales is low, making it difficult to determine an accurate market assessment based on units and volume alone. Winter months are always difficult to project because of severe weather fluctuations and relatively low number of home sales.
Several other indicators can help to see what's going on in the Severn, MD real estate market. The average days on market decreased slightly at -5.81% year over year. A decrease that low doesn't really identify a trend from being a buyers market, to becoming more of a sellers market. The average list price for homes sold also decreased -12.79%.
Another significant data point is the Average Sale Price as a % of Average List Price. Higher percentages favor sellers, lower percentages favor buyers. This is another area that Severn MD showed an decrease. Homes are not selling closer to list price than they did just one year ago at this time. Severn MD home buyers have to be happy about that development.
Most agents I talk to do see the Severn MD market getting better as the year progresses. Severn MD should see a net gain in home sales once the BRAC transferees begin moving into the area later this year.
| January |
2009 | 2010 | % Change |
| Sold Dollar Volume | $3,752,800 |
$3,704,000 |
-1.30% |
| Average Sold Price | $312,733 |
$264,571 |
-15.40% |
| Median Sold Price | $289,000 |
$266,250 |
-7.87% |
| Total Units Sold | 12 |
14 |
+16.67% |
| Average Days on Market | 86 |
81 |
-5.81% |
| Average List Price for Solds | $340,260 |
$296,749 |
-12.79% |
| Average Sale as a % of Average List Price: |
91.91% |
89.16% |
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
Rich Iarossi is a full time licensed REALTOR®, working in Crofton, MD. My coverage areas are: Anne Arundel, Prince George’s, Howard, Calvert, Queen Anne, and Baltimore City and County. I specialize in residential real estate, working with both buyers and sellers. Use the registration free search on my website at www.RichSellsHomes.com. If you’re not already working with a REALTOR®...I can help. Call me at 443-995-9595 (Cell) or 410-451-6255 (Office).
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