Demand remains strong in the Harford County housing market in August, as many indicators reach multi-year highs. Sales rose to their highest August-level in three years, and new contracts reached their highest August-level in seven years. Prices continue to climb, up year-over-year for the seventh straight month, and their highest August-level in five years. Low inventory of active and new listings persists, and is playing a major role in the price appreciation. Many people are likely keeping their homes off the market due to continued economic uncertainty, preferring to wait it out. It is also likely that homeowners in some communities would still face equity losses if they were to sell at the current price points, which could be deterring many from entering the market. The condo market remains strong with double-digit growth in sales and new contracts compared to last year, higher than townhomes and detached homes.
Let’s look at some of the statistics in August, 2012 for Harford County Real Estate. In August there were 358 New Homes listed which is up 9.5% from Aug, 2011. New Pending Sales of 261 are up 16.0% from Aug, 2011. Closed Sales of 229 are also up 23.1% from Aug, 2011. The Median Sold Price is $235,000 which is flat 0.0% from Aug, 2011. As of August there are currently 1,302 active listings with an Average Days on the Market of 113.
If you need specific statistics for your community of development, please feel free to contact me anytime, Robert B. McArtor at 443-392-4833 or through my website at http://www.MarylandHOMESTeam.com