Severn Real Estate Statistics

Severn real estate average sold price in the last 30 days (October 21 - November 19) was $877,138, which is $180,417 (20.6%) lower than the average price of $1,057,555 in the previous 30 day period (September 21 - October 20), and $14,647 (1.7%) down from the same period 1 year ago ($891,785). Severn real estate prices over the last 30 days are also $1,115 (0.1%) lower than the average selling price of $878,253 over the past year.

Severn average sold price for homes was $877,138 in the last 30 days (October 21 - November 19), which is $223,398 (25.5%) down from the average home price of $1,100,536 in the previous 30 day period (September 21 - October 20), and $14,647 (1.7%) lower than the same period 1 year ago ($891,785). In the last 30 days Severn the average home price was $6,612 (0.8%) lower than the average selling price of $883,750 over the last 12 months.

Average selling price for Severn real estate was $877,138 in the last 30 days (October 21 - November 19), which is collectively $36,784 (3.4%) lower than the average asking price of $1,067,774. This represents an increase of $11,612 (24.0%) compared to $48,396 (4.7%) Sold-Under-Asking price from the previous 30 day period (September 21 - October 20).

The maximum Sold Over/Under Asking ratio in Severn during the last 12 months was recorded in March, 2024 with an average of $14,250 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 36.1% with 13 properties sold and 39 new properties listed in the past 30 days (October 21 - November 19). This represents a decrease from 59.0% recorded during the previous 30 day period (September 21 - October 20), and a decrease from 37.8% compared to the same period one year ago.

Over the the last year the highest SNLR in Severn was 100.0% recorded in December 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 13 properties that were successfully sold in Severn in the last 30 days (October 21 - November 19) was 116 days, which is 73 days more than 43 days average in the previous 30 day period (September 21 - October 20) and 75 days longer than during the same period a year ago (41 days).

There were 36 delisted properties in Severn, those that got either Expired, Suspended or Terminated over the last 30 days (October 21 - November 19) with an average of 97 days on the market. This is 26 days longer than the average of 71 days during the previous 30 day period (September 21 - October 20) and 38 days more compared to the same period last year average of 59 days on the market.

36 Severn properties that didn't sell stayed on the market 16.4% longer than 13 that sucessfully sold over the last 30 days - 116 days when sold vs 97 days when delisted respectively.

Average Days on the Market in Severn over the past 12 months for properties that have sold was 42.0 days, with 70.3 days for those properties that did not sell.

36 new properties were listed on the market in Severn in the last 30 days (October 21 - November 19). During the same time 13 properties were sold and 36 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 13 properties (or 36.1%).

During the previous 30 day period (September 21 - October 20) there were 39 new properties listed, 23 sold and 35 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 8 new listings and a yearly average of 41 new listings per month.

There were a total of 35 homes listed during the last 30 days (October 21 - November 19), which is 97.2% of all properties listed in Severn. This is a 0.0% decline compared with a previous 30 day period (September 21 - October 20) and 2.8% down from the same period a year ago. Over the past year an average of 39 homes are were listed per month.

1 townhomes were listed over the last 30 days (October 21 - November 19) in Severn, which is 2.8% of all new real estate inventory. This is a 75.0% less than during the previous 30 day period (September 21 - October 20) and 0.0% decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 2 a month.

There were a total of 13 homes sold during the last 30 days (October 21 - November 19), which is 100.0% of all properties sold in Severn. This is a 38.1% decline compared with a previous 30 day period (September 21 - October 20) and 7.1% down from the same period a year ago. Over the past year an average of 15 homes are were sold per month.