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: 87 homes coming soon to the market within the next 21 days. 1,400 active homes for sale on the market. 1,717 homes under contract and no longer available to tour and purchase. 671 homes sold during the month of May. This is a 28% decrease compared to the amount of homes sold this time last year. We currently have 2 months of inventory, making it a sellers market.
Anne Arundel County, MD Average Market Time
The average days on market for the 671 sold properties in May 2020 for Anne Arundel County was 35 days. This means homes are selling slightly faster on average than they were in April at 36 days on market, and faster than they were in May last year at 40 days on market.
Anne Arundel County, MD Average Real Estate Listing Prices
The average sold price in May was $427,312 and average list price to sold price ratio was 99.2%. The median sales price was $3687,250 which ranged from $42,500 all the way up to $3,650,000. This means homes in Anne Arundel County are selling for more than they were on average this time last year when they averaged $423,780.