$5,047 Closing Credit*
$425,000
1,962 SqFt
3 Beds
•1 Full Bath
William E Burris, Listing Office: Keller Williams Select Realtors
Is Severn, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Severn has remained a Seller's Market.
Key Takeaway
Severn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Severn, MD
How much do homes in Severn, MD cost?
Median Sold Price
$505,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+4.1%)
Key Takeaway
Homes in Severn have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Severn was $505,000 in November 2024, up 4.1% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $330K | $335K | +1.5% |
| 3 Bedrooms | $449.5K | $470K | +4.6% |
| 4 Bedrooms | $525K | $545.3K | +3.9% |
| 5+ Bedrooms | $672.5K | $699.9K | +4.1% |
Summary: Severn housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 4.1%.
Housing Supply in Severn, MD
How many homes are available in Severn, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 114 | 114 | 0.0% |
Summary: The Severn real estate market had 114 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 52 | 58 | +11.5% |
| 4 Bedrooms | 43 | 39 | -9.3% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The Severn housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes increased by 11.5%, 4 bedroom homes decreased by 9.3%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 | 38 | -5.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Severn, you could pay more than the asking price. 60.5% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in Severn in November 2024, down by 5.0% month-over-month. Of the 38 sold homes, 24% were sold under asking, 16% were sold at asking, and 61% were sold over asking.
Days on Market for Severn, MD
How long does it take to sell a home in Severn, MD?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 12 Days | -33.0% |
Summary: Homes in Severn had an average of 12 days on market in Nov 2024, down by 33% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Severn are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 38 homes were sold in Severn; 87% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
