A look at the housing market in Severna Park shows inventory at a two-year low, but the average price of home sales driving up since 2012.
Long & Foster Real Estate hosts a Market Minute Snapshot website, which breaks down home sales statistics in a variety of categories.
In comparing January 2012 to January 2013, among the most noteworthy changes are a 27 percent decrease in the number of new home listings, a decrease of 34 percent in available inventory, and a 14 percent increase in the median sale price.
The median sale price of a home in 2012 was $387,500, and in 2013, that number increased to $442,550.
Available home inventory on the market dropped from 156 in January 2012 to 103 in January 2013.
Another factor to consider, particularly among home owners looking to sell, is how long homes stay on the market before being sold. According to Long and Foster, that number has slightly decreased, from 93 days on average in 2012, to 107 days on average in 2013.
For more home sales statistics, visit the Long and Foster Real Estate's Market Minute Snapshot.