Harford County Real Estate Market Update March 2015
The stats are out and the Harford County Real Estate Market is looking hot as we are experiencing an early "Spring Market" this year, regardless of what the Groundhog and Mother Nature say. Let's dive right into the numbers that are most important to home sellers, homeowners and buyers! The average sales price of a home sold in Harford County inched up just over 1% from the same time last year. Remember, this is just an average and does not reflect valuations across the board. For a quick report on your home value, just type your address here. 154 Home sold during the month of February, up over 24% from the same time last year, great news for home sellers.
149 homes went under contract during the month of February, again increasing, up over 30% from February 2014. Buyers are coming out with increased input from the Government who dropped FHA Insurance rates by .5% to increase affordability for home buyers. At the end of the Harford County Real Estate Market, up just over 4% from last year. So more buyers are hitting the market than last year, but so are the sellers. 345 new listings hit in February up close to 20% from last year meaning the motivated Sellers are jumping in front of the Spring market and getting their homes listed!! For a FREE market valuation of your homes value and a copy of our 2015 Home Selling Guide visit us here.
With current sales, there currently is a 7.7 month inventory of homes on the market in Harford County. This means that if not 1 home was listed, and based on current sales, it would take over 7 months to empty the market. A "balanced" market is said to be at, or around, 6 months, so with a 7.7 month inventory on hand we are shifting further into a buyers market, up from 7.3 months of inventory last month. If you're interested in learning more about the home buying process, historic low interest rates, financial grants, 100% financing and more programs available to you register for one of our upcoming Home Buying Seminars Today!
|Harford County||Current Year||Previous Month||Previous Year|
|Average Sold Price||$243,202||$253,954||$240,656|
|# of Homes Sold||154||167||124|
|New Under Contract||149||145||114|
|Average Days On Market||122||105||127|
The average days for the Harford County Real Estate Market during the month of February came in at 122 days, down about 4% from last year. Our team is selling homes about 2 months faster than the County average with our state of the art marketing platform. Give us a call today at 443-360-0086, and lets chat about your home goals!
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