$9,856 Closing Credit*
$830,000
4,545 SqFt
4 Beds
•3 Full Baths, 1 Partial
Lisa A Barton, Listing Office: Coldwell Banker Realty
Is Severna Park, MD a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Severna Park has remained a Seller's Market.
Key Takeaway
Severna Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Severna Park, MD
How much do homes in Severna Park, MD cost?
Median Sold Price
$735,000
$284/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$81,333(+12.4%)
Key Takeaway
Homes in Severna Park have sold for 12.4% more than they did a year ago.
Summary: The median home sold price in Severna Park was $735,000 in October 2024, up 12.4% from last year, and the median price per square foot was $284.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.4M | - | N/A |
| 2 Bedrooms | $355K | $381.7K | +7.5% |
| 3 Bedrooms | $522.5K | $583K | +11.6% |
| 4 Bedrooms | $696.5K | $748.5K | +7.5% |
| 5+ Bedrooms | $825K | $930K | +12.7% |
Summary: Severna Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.5%, 3 bedroom homes increased by 11.6%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 12.7%.
Housing Supply in Severna Park, MD
How many homes are available in Severna Park, MD?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 81 | 91 | +12.3% |
Summary: The Severna Park real estate market had 91 homes for sale in October 2024, a 12.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 22 | 17 | -22.7% |
| 4 Bedrooms | 33 | 39 | +18.2% |
| 5+ Bedrooms | 22 | 30 | +36.4% |
Summary: The Severna Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 22.7%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 27 | 17 | -37.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Severna Park, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Severna Park in October 2024, down by 37.0% month-over-month. Of the 17 sold homes, 47% were sold under asking, 29% were sold at asking, and 24% were sold over asking.
Days on Market for Severna Park, MD
How long does it take to sell a home in Severna Park, MD?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 30 Days | +153.1% |
Summary: Homes in Severna Park had an average of 30 days on market in Oct 2024, up by 153.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Severna Park are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 17 homes were sold in Severna Park; 59% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
