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Harford County Real Estate Market November 2015

Harford County Real Estate Market November 2015Harford County Real Estate Market November 2015

Compass Home Group
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Market Stats have been released for October and as expected the market is continuing to stay HOT regardless of temperatures outside.  For the month of October the average homes sold price came in at $255,240 up over 4% from the same time in 2014, and up 9.66% from the average home price in January.  Along the same lines, 344 home sold in October, up over 37% from the same time last year and 25% from last month!!  The jump from last month is very typical as home buyers typically don’t settle during that school transition month historically.  While more homes are settling, 219 more went under contract during the month of October up over 30% from last year and up close to 12% from last month. So as more homes are going under contract, and settling, prices continue to inch up.

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For buyers, this means your dollar will not go as far especially considering as of the end of the month only 1,406 active homes were on the market in Harford County.  Down close to 8% from the same time last year.  Simple math shows us that if more homes are selling, and less are on the market, we continue to stay in a sellers market throughout Harford County right now hovering right round 4 months of active inventory for buyers too choose from.  This may change in the coming month as the FED has made it pretty clear that they plan to raise interest rates during their next meeting in December.  Remember home buyers, a 1% increase in the interest rate of your home lowers your purchasing power by 10%!!

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There is still plenty of options on the market however as 488 new homes hit the market during the month of October, actually up 19% from last year as home sellers are taking their Realtors advice and seeing the benefit of listing their home when inventory is low.  We are still sitting on just over a 3 month average to get a home sold in Harford County, which has been relatively constant throughout the year.  If you are interested in what your Harford County home is worth, visit us at www.ListWithCompass.com for a complimentary market analysis today or give us a call 443-360-0086.

Compass Home Group of Keller Williams American Premier Realty
Tim Langhauser & Michele McCartin
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

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