Severn MD Real Estate – Market Statistics, November 2009

Severn MD, 21144

October – 2009	2009	2008	% Change
Sold Dollar Volume	$5,557,950	$6,335,268	-12.27%
Average Sold Price	$264,664	$422,351	-37.34%
Median Sold Price	$275,000	$380,000	-27.63%
Total Units Sold	21	15	+40.00%
Average Days on Market	108	102	+5.88%
Average List Price for Solds	$294,895	$457,322	-35.52%

Severn, MD home sales statistics seem to be running counter to most other communities in the area in November, 2009 compared to November, 2008. While there was a slight increase in the number of units sold, the dollar volume was lower. Compared to Crofton and Odenton, this was pretty unusual for November 2009.

More units actually sold, but in the lower price ranges. All 21 sales in Severn, MD were in the price range under $500,000. This significantly affected the Average Sold and Median Sold prices. Both of those important statistics were down significantly.

During the month of November, 2009, 36 new listings were added to the Severn, MD home inventory, while 21 were sold.

In a peek at the near term, 26 homes went under one of the various contract categories. Despite that, more houses were added to the Severn MD inventory in November, than went off.

From the data, it looks like first time home buyers were fueling the Severn, MD home sale increases in November, 2009. That makes sense since there was an urgency to buy because the $8,000 tax credit was set to expire on November 31st. That has since been changed by Congress taking some of the sense of urgency off first time home buyers.

Severn, MD is one of those communities looking for an increase in sales when the influx of Ft. Meade workers come into the area as a result of BRAC. 2010 should be the time we begin to see those buyers.

If you’re not already working with a Realtor® to find that perfect Odenton, 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.