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Harford County Real Estate Market November 2016

Harford County Real Estate Market November 2016Harford County Real Estate

Compass Home Group
Call or Text 443-360-0086

It’s that time of month again, real estate stats!! October is closed and the stats are in for for the Harford County Real Estate Market. Buyers in the market should be experiencing more inventory to choose from as inventory is currently sitting around 4.4 months of supply, the highest it’s been since April. Year over year however, we are down almost 15% in active listings on the market. 1,198 homes were listed for sale in Harford County at the end of October. 411 new homes hit the market in October down 15.7% from the same time in 2015 and down over 11% from last month. With less homes hitting the market, you would think inventory would be shrinking, but that’s just not the case right now. The number of home sales in October dropped almost 21% from October 2015, with 273 homes settling last month. A huge drop, which some may blame on a “shifting” market, the election, or dozens of other things.

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Along the same lines, 191 home went under contract in October, down 12.7% from last year, and only down .5% from last month. Days on a market for a home to sell continues to remain down, 76 days to be exact, 18% faster than the same time last year. So inventory is expanding, # of units written and sold is shrinking and homes are selling fast! The plus side of all this is the average home price came in at $277,107 last month, up 8.57% from last year, and well higher than the year to date average of $262,006. So whether you’re a home buyer, seller, or investor there is tons of opportunity all around in this market.

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For a private meeting to discuss your real estate needs call, or text, 443-360-0086 today!

Compass Home Group of Keller Williams American Premier Realty
Tim & Michele Langhauser
Call or Text 443-360-0086 for information Broker: 443-512-0090

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