This is your monthly real estate market update for Anne Arundel County Maryland with James Bowerman Realtor for July 2020.
Anne Arundel County, MD Housing Inventory
Let’s take a quick dive into a few of the metrics for Anne Arundel Counties housing inventory: 131 homes coming soon to the market within the next 21 days. 1,192 active homes for sale on the market. This is a 49% decrease compared to the amount of active homes this time last year. 2,087 homes under contract and no longer available to tour or purchase. 968 homes sold during the month of June. We currently have 1.23 months of inventory, making it a severe sellers market.
Anne Arundel County, MD Average Market Time
The average days on market for the 968 sold properties in June 2020 for Anne Arundel County was 30 days. This means homes are selling slightly faster on average than they were in May at 35 days on market, and faster than they were in June last year at 39 days on market.
Anne Arundel County, MD Average Real Estate Listing Prices
The average sold price in June was $442,610 and average list price to sold price ratio was 99.2%. Home sale prices ranged from $50,000 all the way up to $3,750,000. This means homes in Anne Arundel County are selling for slightly more than they were on average this time last year when they averaged $442,567. Because of the low inventory we’re seeing home values rise at an increasing rate.