Severn Real Estate Statistics

Severn Real Estate Price Trend
Severn real estate average sold price in the last 30 days (May 27 - June 25) was $790,500, which is $238,414 (30.2 %) lower than the average price of $1,028,914 in the previous 30 day period (April 27 - May 26), and $39,090 (4.9 %) down from the same period 1 year ago ($829,590). Severn real estate prices over the last 30 days are also $164,117 (20.8 %) lower than the average selling price of $954,617 over the past year.
Severn average sold price for homes was $790,500 in the last 30 days (May 27 - June 25), which is $238,414 (30.2 %) down from the average home price of $1,028,914 in the previous 30 day period (April 27 - May 26), and $39,090 (4.9 %) lower than the same period 1 year ago ($829,590). In the last 30 days Severn the average home price was $166,482 (21.1 %) lower than the average selling price of $956,982 over the last 12 months.
Sold Price Above/Below Asking ($)
Average selling price for Severn real estate was $790,500 in the last 30 days (May 27 - June 25), which is collectively $7,360 (0.7 %) higher than the average asking price of $1,023,683. This represents a decline of $24,267 (76.7 %) compared to $31,627 (3.0 %) Sold-Over-Asking price from the previous 30 day period (April 27 - May 26).
The maximum Sold Over/Under Asking ratio in Severn during the last 12 months was recorded in February, 2022 with an average of $94,866 over the asking price, while the minimum occurring in August, 2021 with $3,676 below the asking price.
Sales to New Listings Ratio
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 31.2 % with 10 properties sold and 39 new properties listed in the past 30 days (May 27 - June 25). This represents a decrease from 38.5 % recorded during the previous 30 day period (April 27 - May 26), and a decrease from 77.8 % compared to the same period one year ago.
Over the the last year the highest SNLR in Severn was 160.0 % recorded in December and the lowest was in April at 42.4 %. 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.
Average Days on Market when Sold vs Delisted
The Average Days on the Market (DOM) for 10 properties that were successfully sold in Severn in the last 30 days (May 27 - June 25) was 17 days, which is 8 days more than 9 days average in the previous 30 day period (April 27 - May 26) and 1 days shorter than during the same period a year ago (18 days).
There were 23 delisted properties in Severn, those that got either Expired, Suspended or Terminated over the last 30 days (May 27 - June 25) with an average of 27 days on the market. This is 2 days shorter than the average of 29 days during the previous 30 day period (April 27 - May 26) and 7 days more compared to the same period last year average of 20 days on the market.
23 Severn properties that didn't sell stayed on the market 58.8 % longer than 10 that sucessfully sold over the last 30 days - 17 days when sold vs 27 days when delisted respectively.
Average Days on the Market in Severn over the past 12 months for properties that have sold was 16.7 days, with 42.6 days for those properties that did not sell.
New Real Estate Listings vs Sold/Delisted
32 new properties were listed on the market in Severn in the last 30 days (May 27 - June 25). During the same time 10 properties were sold and 23 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 1 properties (or 3.1 %).
During the previous 30 day period (April 27 - May 26) there were 39 new properties listed, 15 sold and 17 properties that did not sell and were removed from the market.
Over the past year the busiest month for new listings was May with 37 new properties listed, the slowest - December with 5 new listings and a yearly average of 21 new listings per month.
New Real Estate Listings by Property Type
There were a total of 31 homes listed during the last 30 days (May 27 - June 25), which is 96.9 % of all properties listed in Severn. This is a 18.4 % decline compared with a previous 30 day period (April 27 - May 26) and 29.2 % up from the same period a year ago. Over the past year an average of 21 homes are were listed per month.
Real Estate Sales by Property Type
There were a total of 10 homes sold during the last 30 days (May 27 - June 25), which is 100.0 % of all properties sold in Severn. This is a 33.3 % decline compared with a previous 30 day period (April 27 - May 26) and 52.4 % down from the same period a year ago. Over the past year an average of 17 homes are were sold per month.
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