Compass Home Group
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The market stats are updated and while the temperatures outside may be frigid this morning, the real estate market is warm and comfortable. Through the heat of the Summer and bustling real estate market throughout Harford County we saw inventory shrink to as low as 3.8 months making it a sellers dream with homes priced well seeing multiple offers. As the seasonality of Fall is setting in the home inventory has jumped back up to 5.35 months shifting back into a healthy (6 months) real estate market. Inventory is calculated by dividing the number of homes selling into the total number of homes listed giving us how many months it would take to eliminate the inventory assuming no more homes hit the market.
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Closing out September, the average price of a Harford County home sold came in at $255,053 which came in down about 2.5% from the same time last year, but jumped over 9% from the beginning of the year. Averages, can be greatly skewed by a few larger, or much smaller, priced homes. For a FREE valuation of your home’s value visit us here. 275 homes sold in Harford County during September, up 9% from last year, while 196 properties went under contract up a huge 47% from the same time! This shows us the kids are back in school from the small slow down in August and buyers are back out and into the market!
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Currently 1,472 homes are available for sale in Harford County, down 7.8% from last year and down 1% from last month. If the market continues to lower listing inventory as buyers stay active, we will fall back into a sellers market through the Winter months of 2015. 455 new homes hit the Harford County Real Estate market last month, down 6% from the same time in 2014.
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