SEVERNA PARK HOUSING MARKET DATA

With relatively few transactions, there was an increase in total units sold in March, with 17 sold this month in Severna Park Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2024.

Versus last year, the total number of homes available this month is lower by 3 units or 10%. The total number of active inventory this March was 27 compared to 30 in March 2024. This month's supply remained stable as compared to last month.

Last March, the median sale price for Severna Park Homes was $685,000. This March, the median sale price was $749,900, an increase of 9% or $64,900 compared to last year. The current median sold price is 14% higher than in February.

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

In March, there was 1.6 months of supply available in Severna Park, compared to 1.3 in March 2024. That is an increase of 22% 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.

This month there were 21 homes newly listed for sale in Severna Park compared to 36 in March 2024, a decrease of 42%. There were 20 current contracts pending sale this March compared to 29 a year ago. The number of current contracts remained stable as compared to last March.

In March, the average sale price in Severna Park was 101.3% of the average list price, which is similar compared to a year ago.

This month, the average number of days on market was 40, higher than the average last year, which was 18. This increase was impacted by the limited number of sales.





FOCUS ON: SEVERNA PARK HOUSING MARKET			MARCH 2025

Zip Code(s): 21146
Units Sold 17	Active Inventory 27	Median Sale Price $749,900	Days On Market 40

Down Vs. Year Ago	Down -10% Vs. Year Ago	Up 9% Vs. Year Ago	Up Vs. Year Ago


		Units Sold With relatively few transactions, there was an increase in total units sold in March, with 17 sold this month in Severna Park Real Estate. This month's total units sold was lower than at this time last year, a decrease from March 2024.
Active Inventory Versus last year, the total number of homes available this month is lower by 3 units or 10%. The total number of active inventory this March was 27 compared to 30 in March 2024. This month's supply remained stable as compared to last month.
		Median Sale Price Last March, the median sale price for Severna Park Homes was $685,000. This March, the median sale price was $749,900, an increase of 9% or $64,900 compared to last year. The current median sold price is 14% higher than in February. Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.



New Listings 21	Current Contracts 20	Sold Vs. List Price 101.3%	Months of Supply 1.6

Down -42% Vs. Year Ago	Down -31% Vs. Year Ago	No Change Vs. Year Ago	Up 22% Vs. Year Ago


		Months of Supply In March, there was 1.6 months of supply available in Severna Park, compared to 1.3 in March 2024. That is an increase of 22% 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 21 homes newly listed for sale in Severna Park compared to 36 in March 2024, a decrease of 42%. There were 20 current contracts pending sale this March compared to 29 a year ago. The number of current contracts remained stable as compared to last March.
		Sale Price to List Price Ratio In March, the average sale price in Severna Park was 101.3% of the average list price, which is similar compared to a year ago. Days on Market This month, the average number of days on market was 40, higher than the average last year, which was 18. This increase was impacted by the limited number of sales.


	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.
	Information 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.