As summer progressed, the number of homes sold in Severn dropped 43 percent.
Severn home sales activity this summer peaked in the month of June, as more homes sold and the highest average prices were obtained in that month.
According to statistics provided by the Metropolitan Regional Information Service (MRIS), the average Severn home sale price dropped from $329,516 in June to $315,725 in August. The number of Severn homes sold also declined over that period, going from 35 homes in June to 20 in August, a 43 percent decrease.
Breaking down those numbers, the number of attached homes sold dropped from seven to three, while the number of detached homes sold dropped from 28 to 17.
MRIS Home Sale Statistics for Severn, MD (21144)
August 2012
July 2012
June 2012
Avg. Sold Price
$315,725
$328,079
$329,516
No. Units Sold
20
22
35
Avg. Days on Market
105
58
123
Attached Avg. Sold Price
$130,000
$83,275
$175,070
No. Attached Units Sold
3
4
7
Detached Avg. Sold Price
$348,500
$382,480
$368,128
No. Detached Units Sold
17
18
28
No. of Active Listings
139
146
143
Also notable is that roughly five times as many detached homes sold in Severn this summer than attached homes (such as townhouses, condominiums and duplexes). By contrast, over the same period in Odenton, the sale of attached homes outnumbered the sale of detached homes three to one.
The MRIS numbers for Severn also show that the average number of days that sold homes remained on the market this summer dropped slightly from 123 to 105. The number of homes actively for sale in Severn over the period remained about the same (143 to 139).
Jerry Kline is a Realtor with the Odenton, Md., office of Keller Williams Flagship Realty (1216 Annapolis Rd., Odenton.) For more information on the local real estate market, contact him at (443) 924-7418.
