Severn Real Estate Statistics

Severn real estate average sold price in the last 30 days (March 25 - April 23) was $826,464, which is $100,706 (12.2%) lower than the average price of $927,170 in the previous 30 day period (February 24 - March 24), and $23,817 (2.9%) down from the same period 1 year ago ($850,281). Severn real estate prices over the last 30 days are also $14,134 (1.7%) higher than the average selling price of $812,330 over the past year.

Severn average sold price for homes was $826,464 in the last 30 days (March 25 - April 23), which is $100,706 (12.2%) down from the average home price of $927,170 in the previous 30 day period (February 24 - March 24), and $23,817 (2.9%) lower than the same period 1 year ago ($850,281). In the last 30 days Severn the average home price was $7,585 (0.9%) higher than the average selling price of $818,879 over the last 12 months.

Average selling price for Severn real estate was $826,464 in the last 30 days (March 25 - April 23), which is collectively $17,543 (1.7%) lower than the average asking price of $1,045,858. This represents a decline of $1,396 (8.6%) compared to $16,147 (1.7%) Sold-Under-Asking price from the previous 30 day period (February 24 - March 24).

The maximum Sold Over/Under Asking ratio in Severn during the last 12 months was recorded in July, 2023 with an average of $8,056 under the asking price, while the minimum occurring in October, 2023 with $58,265 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Severn was 47.9% with 23 properties sold and 34 new properties listed in the past 30 days (March 25 - April 23). This represents a decrease from 50.0% recorded during the previous 30 day period (February 24 - March 24), and an increase from 43.2% compared to the same period one year ago.

Over the the last year the highest SNLR in Severn was 2,157.1% recorded in July and the lowest was in January at 20.0%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 23 properties that were successfully sold in Severn in the last 30 days (March 25 - April 23) was 19 days, which is 13 days less than 32 days average in the previous 30 day period (February 24 - March 24) and 2 days shorter than during the same period a year ago (21 days).

There were 27 delisted properties in Severn, those that got either Expired, Suspended or Terminated over the last 30 days (March 25 - April 23) with an average of 75 days on the market. This is 24 days shorter than the average of 99 days during the previous 30 day period (February 24 - March 24) and 34 days more compared to the same period last year average of 41 days on the market.

27 Severn properties that didn't sell stayed on the market 294.7% longer than 23 that sucessfully sold over the last 30 days - 19 days when sold vs 75 days when delisted respectively.

Average Days on the Market in Severn over the past 12 months for properties that have sold was 35.8 days, with 65.2 days for those properties that did not sell.

48 new properties were listed on the market in Severn in the last 30 days (March 25 - April 23). During the same time 23 properties were sold and 27 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 2 properties (or 4.2%).

During the previous 30 day period (February 24 - March 24) there were 34 new properties listed, 17 sold and 32 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was May with 54 new properties listed, the slowest - December with 8 new listings and a yearly average of 39 new listings per month.

There were a total of 45 homes listed during the last 30 days (March 25 - April 23), which is 93.8% of all properties listed in Severn. This is a 36.4% increase compared with a previous 30 day period (February 24 - March 24) and 28.6% up from the same period a year ago. Over the past year an average of 38 homes are were listed per month.

There were a total of 23 homes sold during the last 30 days (March 25 - April 23), which is 100.0% of all properties sold in Severn. This is a 35.3% increase compared with a previous 30 day period (February 24 - March 24) and 43.8% up from the same period a year ago. Over the past year an average of 116 homes are were sold per month.