Severn Real Estate Statistics

Severn real estate average sold price in the last 30 days (January 21 - February 19) was $757,930, which is $193,784 (25.6%) lower than the average price of $951,714 in the previous 30 day period (December 22 - January 20), and $21,730 (2.9%) up from the same period 1 year ago ($736,200). Severn real estate prices over the last 30 days are also $133,730 (17.6%) lower than the average selling price of $891,660 over the past year.

Severn average sold price for homes was $757,930 in the last 30 days (January 21 - February 19), which is $193,784 (25.6%) down from the average home price of $951,714 in the previous 30 day period (December 22 - January 20), and $7,368 (1.0%) higher than the same period 1 year ago ($750,562). In the last 30 days Severn the average home price was $138,859 (18.3%) lower than the average selling price of $896,789 over the last 12 months.

Average selling price for Severn real estate was $757,930 in the last 30 days (January 21 - February 19), which is collectively $13,638 (1.2%) lower than the average asking price of $1,139,799. This represents an increase of $18,590 (57.7%) compared to $32,228 (3.4%) Sold-Under-Asking price from the previous 30 day period (December 22 - January 20).

The maximum Sold Over/Under Asking ratio in Severn during the last 12 months was recorded in December, 2024 with an average of $3,728 under the asking price, while the minimum occurring in August, 2024 with $65,787 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 46.4% with 13 properties sold and 21 new properties listed in the past 30 days (January 21 - February 19). This represents an increase from 33.3% recorded during the previous 30 day period (December 22 - January 20), and an increase from 28.6% compared to the same period one year ago.

Over the the last year the highest SNLR in Severn was 568.4% recorded in December and the lowest was in January at 25.0%. 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 13 properties that were successfully sold in Severn in the last 30 days (January 21 - February 19) was 37 days, which is 18 days less than 55 days average in the previous 30 day period (December 22 - January 20) and 11 days longer than during the same period a year ago (26 days).

There were 22 delisted properties in Severn, those that got either Expired, Suspended or Terminated over the last 30 days (January 21 - February 19) with an average of 76 days on the market. This is 36 days shorter than the average of 112 days during the previous 30 day period (December 22 - January 20) and 9 days less compared to the same period last year average of 85 days on the market.

22 Severn properties that didn't sell stayed on the market 105.4% longer than 13 that sucessfully sold over the last 30 days - 37 days when sold vs 76 days when delisted respectively.

Average Days on the Market in Severn over the past 12 months for properties that have sold was 47.4 days, with 70.3 days for those properties that did not sell.

28 new properties were listed on the market in Severn in the last 30 days (January 21 - February 19). During the same time 13 properties were sold and 22 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 7 properties (or 25.0%).

During the previous 30 day period (December 22 - January 20) there were 21 new properties listed, 7 sold and 20 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was May with 70 new properties listed, the slowest - December with 19 new listings and a yearly average of 45 new listings per month.

There were a total of 28 homes listed during the last 30 days (January 21 - February 19), which is 100.0% of all properties listed in Severn. This is a 40.0% increase compared with a previous 30 day period (December 22 - January 20) and 15.2% down from the same period a year ago. Over the past year an average of 43 homes are were listed per month.

There were a total of 13 homes sold during the last 30 days (January 21 - February 19), which is 100.0% of all properties sold in Severn. This is a 85.7% increase compared with a previous 30 day period (December 22 - January 20) and 62.5% up from the same period a year ago. Over the past year an average of 26 homes are were sold per month.