Lately, the news has focused on the lack of homes for sale right now for buyers, but the data tells a different story in our local market of Severna Park.
Twenty-eight new homes have been listed since September 1st and there are 146 homes for sale in Severna Park right now. Twenty to thirty homes typically sell in Severna Park each month so the supply of inventory is plentiful considering the demand. The supply of waterfront homes is also very good right now with 24 active listings.
What is really promising for home values is that there is currently only 1 foreclosure and only 10 short sales on the market in Severna Park.
So far this month, 18 homes have gone under contract. Buyers want to take advantage of the great rates and find a new home, while sellers want their home sold before the holidays.
If you are looking to buy or sell, there is no need to wait for a strong spring market, because the fall market is red hot!
Contact me if you have any questions at 443-691-0838 or email david@davidorso.com.