Harford County Market Stats Update March 2018
It's that time of month again as the Harford County Real Estate market stats have been released!! Unless you've not been in the market at all, you would likely know the current real estate market is HOT as Spring has Sprung early throughout most of the State, and Country. For the month of February the average home priced came in at $249,899 up just over a quarter percent from the same time in 2017. 209 homes were sold during the same time period, up 2.45% from February of 2017. This number would likely far higher if the inventory on the market would catch up to demand. Along the same lines, 335 homes went under contract in February, up only .3% from the same time last year.
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The next numbers will give some perspective on why the growth in the above numbers was not more impressive. There are 687 active homes for sale in Harford County, our inventory, down 22.81% from February of 2017! That is a massive shift in the amount of homes for buyers to choose from! Agents are finding it difficult to find buyers home in this tight market, leading to intense multiple offer situations on homes priced well and show ready! 351 new listings hit the market in February, down 9.77% from last year as well. In a nutshell, we are seeing more buyers wanting homes than in years past, with less for them to choose. We firmly believe that if inventory was up, or even consistent with last year, the number of home selling would be much larger. On average, a home is taking 68 days to sell in Harford County, down almost 30% from last year! So sellers are seeing faster sales, less competition, and capturing more of their equity in the sale!
If you're looking for more information on buying, selling, or investing in real estate, please don't hesitate to contact us today! Your consultation is FREE and will help guide you in the decision making process!! It may not be the best time for you to enter the real estate market, and that's OK! We're by your side every step of the way! Our goals are your goals! We're here to Share Love, Have Fun and Build Community Through Real Estate!
Compass Home Group of Keller Williams American Premier Realty
Tim & Michele Langhauser
Call or Text 443-360-0086 for information Broker: 443-512-0090
Get a FREE REPORT of your HOME’S VALUE at www.ListWithCompass.com