It’s that time of month again, the numbers are out, and the Compass Home Group is bringing you the Harford County Real Estate Agent Market Report August 2014 showcasing what is happening in the Harford County Real Estate market. 7 months have flown by this year, and we are sitting in the middle of the 3rd Quarter with school starting back up soon and the Holiday season will be here before you know it! Let’s not waste anytime and dive right into the Harford County Real Estate Agent Market Report August 2014. As usual, we track everything from month over month change, year over year change to year to date changes making sure that our team is well equipped as we monitor trending activities.
|Harford County||Current Year||Previous Month||Previous Year|
|Average Sold Price||$262,229||$274,379||$257,934|
|# of Homes Sold||298||267||319|
|New Under Contract||157||172||184|
|Average Days On Market||80||85||84|
On average in July, a Harford County home sold for $262,229, which was 1.67% increase from the same time last year, and up 12.66% from the January stats. Remember, these are averages, so a few high dollar, or low dollar homes, can make a pretty significant impact. Of the 298 homes that sold last month, the largest demand is coming from anything with a minimum of 4 Bedrooms, making up over 1/3 of total home sales! While we continue to see this number grow, 3 Bedrooms homes still made up for over 40% of the market and to continue to dominate what home buyers are searching for. 157 new homes went under contract in July, down 8.72% from the June as people are deep into vacation season. By the end of July, 1,531 homes were actively listed on the market in Harford County, up 23.57% from July 2013!! Inventory is continuing to rebound as we move back from a sellers market with low inventory towards a more balanced market, of approximately 6 months housing inventory.
465 new listings hit the market last month, up 5.20% from the same time last year, but down 9.36% from June. This is showing us that we have moved out of the spring market into the Summer season as listings taken begin to show signs of slowing. However, with 465 new listings coming to market, and only 298 selling, inventory will continue to slowly creep up, taking the withdrawn homes into consideration. Finally, let’s peak at days on market and you will see that the average home is only taking 80 days to sell in Harford County. Remember, this is assuming the home shows well, and is priced appropriately for the area. Just a few months back we were seeing average days on market in Harford County at over 100 days, so homes are flying off the market faster and faster right now. We are seeing multiple offers on homes with some selling as fast as the sign can go in the yard.
If you’re interest in buying or selling in, or around, Harford County make sure to the put your #1 Harford County Real Estate Agent team to work today by calling us directly at 443-360-0086. For a FREE market valuation of your home complete our seller survey and we will send you a 2014 Guide to Selling Your Maryland Home!
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
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