$7,125 Closing Credit*
$600,000
1,960 SqFt
3 Beds
•2 Full Baths
Leslie Ikle, Listing Office: Redfin Corp
Is Severna Park, 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, 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
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$78,750(+12.0%)
Key Takeaway
Homes in Severna Park have sold for 12% more than they did a year ago.
Summary: The median home sold price in Severna Park was $735,000 in November 2024, up 12% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.4M | - | N/A |
| 2 Bedrooms | $360K | $388.7K | +8.0% |
| 3 Bedrooms | $525K | $585K | +11.4% |
| 4 Bedrooms | $700K | $750K | +7.1% |
| 5+ Bedrooms | $864.9K | $910K | +5.2% |
Summary: Severna Park 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 8%, 3 bedroom homes increased by 11.4%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 5.2%.
Housing Supply in Severna Park, MD
How many homes are available in Severna Park, MD?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 84 | 74 | -11.9% |
Summary: The Severna Park real estate market had 74 homes for sale in November 2024, a 11.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 16 | 15 | -6.3% |
| 4 Bedrooms | 33 | 29 | -12.1% |
| 5+ Bedrooms | 30 | 26 | -13.3% |
Summary: The Severna Park 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 20%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 12.1%, and 5+ bedroom homes decreased by 13.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 18 | 22 | +22.2% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Severna Park, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Severna Park in November 2024, up by 22.2% month-over-month. Of the 22 sold homes, 41% were sold under asking, 14% were sold at asking, and 45% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 25 Days | -4.6% |
Summary: Homes in Severna Park had an average of 25 days on market in Nov 2024, down by 4.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Severna Park are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 22 homes were sold in Severna Park; 77% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
