The Long & Foster Market Minute

Focus On: Severna Park Housing Market June 2021

Zip Code(s): 21146
Units Sold
Active Inventory
Median Sale Price
Days On Market
Up 25%
Vs. Year Ago
Down -22%
Vs. Year Ago
Up 23%
Vs. Year Ago
Down -61%
Vs. Year Ago

Units Sold
There was an increase in total units sold in June, with 65 sold this month in Severna Park Real Estate versus 49 last month, an increase of 33%. This month's total units sold was higher than at this time last year, an increase of 25% versus June 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 12 units or 22%. The total number of active inventory this June was 43 compared to 55 in June 2020. This month's total of 43 is higher than the previous month's total supply of available inventory of 32, an increase of 34%.

Median Sale Price
Last June, the median sale price for Severna Park Homes was $513,000. This June, the median sale price was $630,000, an increase of 23% or $117,000 compared to last year. The current median sold price is 7% lower than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.

New Listings
Current Contracts
Sold Vs. List Price
Months of Supply
Up 31%
Vs. Year Ago
Down -16%
Vs. Year Ago
Up 2.3%
Vs. Year Ago
Down -38%
Vs. Year Ago

Months of Supply
In June, there was 0.7 months of supply available in Severna Park, compared to 1.1 in June 2020. That is a decrease of 37% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 68 homes newly listed for sale in Severna Park compared to 52 in June 2020, an increase of 31%. There were 51 current contracts pending sale this June compared to 61 a year ago. The number of current contracts is 16% lower than last June.

Sale Price to List Price Ratio
In June, the average sale price in Severna Park was 101.3% of the average list price, which is 2.3% higher than at this time last year.

Days on Market
This month, the average number of days on market was 11, lower than the average last year, which was 28, a decrease of 61%.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.