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: 139 homes coming soon to the market within the next 21 days. There are only 947 active homes for sale on the market. This is a 57% decrease compared to the 2,209 active homes in September last year. 1,987 homes are under contract and no longer available to tour or purchase. 1,052 homes sold during the month of August. We currently have 0.9 months of inventory, making it a severe sellers market.
Anne Arundel County, MD Average Market Time
The average days on market for the 1,052 sold properties in August 2020 for Anne Arundel County was 30 days. This means homes are selling slightly faster on average than they were in July at 35 days on market, and faster than they were in August last year at 41 days on market.
Average Real Estate Listing Prices
The average sold price in August was $477,921 and average list price to sold price ratio was 99.2%. Home sale prices ranged from $39,900 all the way up to $5,000,000. This means homes in Anne Arundel County are selling for 18% more than they were this time last year when they averaged $404,591. Because of the low inventory we’re seeing home values rise at an increasing rate.