This is your monthly real estate market update for Anne Arundel County, Maryland with James Bowerman and the Real Creative Group of Douglas Realty.
Anne Arundel County, MD Housing Inventory
Let’s take a quick dive into a few of the metrics for Anne Arundel Counties housing inventory.
Coming Soon: 83 homes coming soon to the market within the next 21 days.
Active Listings: 658 properties are currently active for sale on the market. This is a 56% decrease compared to the 1,485 active homes in January of 2019.
Under Contract: 1,347 homes under contract and no longer available to tour or purchase.
Homes Sold: 966 homes sold during the month of December. This is a 25% increase compared to the 721 homes sold in December of 2019.
Months of Inventory: We currently have 0.7 months of inventory, meaning if no new listings came on the market, it would take less than a month for the remaining properties to sell.
Anne Arundel County, MD Average Time on Market
The average days on market for the 966 sold properties in August 2020 for Anne Arundel County was 23 days. This means homes are selling slightly faster on average than they were in December last year at 31 days on market.
Anne Arundel County, MD Average Home Prices
The average sold price in December was $469,482 and average list price to sold price ratio was 100.6%. Home sale prices ranged from $36,900 all the way up to $6,250,000. This means homes in Anne Arundel County are selling for 5% more than they were this time last year when they averaged $447,968.