Harford County Real Estate Market Report March 2013

Harford County Real Estate Market Report March 2013

The Compass Home Group

443-360-0086

The Compass Home Group is committed to bringing you the most up to the minute real estate information for your area!  The Compass Home Group is happy to show you where the current real estate market is trending to at the end of first quarter of 2013.  We are going to dive right into the most relative date to you, our clients, customers, friends and family.  Harford County Real Estate is definitely on an upward swing from where we stood last year at this time.  In the month of March, 189 homes sold in Harford County, up 14.55% from March of 2012.  Not only are more homes selling, but they are selling for more money as our economy creeps upward.  The average sold price of a home in Harford County was $258,532 for March 2013, up 5.26% from the same time a year ago!  This is huge!  The market is beginning to trend upwards as we are stepping into the busiest time of year for real estate, our SPRING market, and as you can see SPRING HAS SPRUNG!!

During the month of March, 154 Harford County properties went under contract, an increase of 15.49% from March 2012.  Those 189 homes that sold in March sold in an average of 107 days.  That is 20% faster then the same time last year.  The final number we are going to look at is how many active listings are currently on the market in Harford County.  The answer??  1,130, down 10.10% from where we were last year.  So, WHAT DOES ALL THIS MEAN??

The Harford County Real Estate Market is changing, and Compass Home Group is bringing you all the details!!  Home prices are creeping up again, the number of homes selling is seeing double digit gains year over year, along with contracts being written.  The time that houses are sitting on the market is seeing double digit decreases, selling over 20 days faster then the same time last year.  The housing market considers six months of inventory at any time a healthy market, anything less than that and we shift to a sellers market, anything more than then and a buyers market will emerge.  As of today we are currently almost smack dead on six months of inventory, meaning we have a healthy and balanced market.  At this time last year, we were experiencing an inventory of homes of almost eight months!!

This is opening up opportunity for home buyers, and sellers right now!!  Plenty of properties are still on the market that are distressed and ready for a buyers touch, while sellers are seeing multiple offer situations on their homes now.  The Compass Home Group wants to make sure you are fully informed of the market trends and where it's heading.  For more information on values in your specific neighborhood, contact the Compass Home Group today. 443-360-0086