The Long & Foster Market Minute

Focus On: Severna Park Housing Market May 2020

Zip Code(s): 21146
Units Sold
33
Active Inventory
63
Median Sale Price
$540,000
Days On Market
29
Down -30%
Vs. Year Ago
Down -49%
Vs. Year Ago
Up 6%
Vs. Year Ago
Down -31%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 33 sold this month in Severna Park Real Estate versus 37 last month, a decrease of 11%. This month's total units sold was lower than at this time last year, a decrease of 30% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 60 units or 49%. The total number of active inventory this May was 63 compared to 123 in May 2019. This month's total of 63 is lower than the previous month's total supply of available inventory of 75, a decrease of 16%.

Median Sale Price
Last May, the median sale price for Severna Park Homes was $507,500. This May, the median sale price was $540,000, an increase of 6% or $32,500 compared to last year. The current median sold price is 8% lower than in April.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
52
Current Contracts
54
Sold Vs. List Price
97.8%
Months of Supply
1.9
Down -25%
Vs. Year Ago
Up 42%
Vs. Year Ago
Down -1%
Vs. Year Ago
Down -27%
Vs. Year Ago

Months of Supply
In May, there was 1.9 months of supply available in Severna Park, compared to 2.6 in May 2019. That is a decrease of 27% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 52 homes newly listed for sale in Severna Park compared to 69 in May 2019, a decrease of 25%. There were 54 current contracts pending sale this May compared to 38 a year ago. The number of current contracts is 42% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Severna Park was 97.8% of the average list price, which is 1.0% lower than at this time last year.

Days on Market
This month, the average number of days on market was 29, lower than the average last year, which was 42, a decrease of 31%.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.