I took a look at the Real Estate statistics comparing May, 2020 to May, 2019. The stats were for Harford County as a whole and then I specifically broke out the Abingdon zip code.
First, let’s look at the county as a whole. There is lots of good news! The median sales price was up as was the ratio of the average sold price to original listing price AND the average days on market were down. In plain english, homes are selling faster and for more money! Now, fewer homes were sold this year but that is most likely due to the fact that we had over 46% fewer active listings. If your friends are telling you they can’t find anything to buy, it’s true!
Abingdon didn’t fare quite as well as the county as a whole, but the news certainly isn’t bad. Although the median sales price is slightly down (less than 1% difference), the average sold price to original list price ratio improved! Prices for all types of properties were up slightly with the exceptions of 3-bedroom detached homes and townhomes with 4 or more bedrooms. Condos saw the biggest drop in sales price but even that was down less than 15% from a year ago.
What is your take away from all these numbers? People are looking for and buying homes! The pandemic hasn’t kept people from buying. If you have ever considered selling your home, NOW IS THE TIME! Call or Email me today and let’s talk about your neighborhood and how we can get the most out of your house.