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Havre de Grace Real Estate in August, 2016

Havre de Grace real estate has done well over the past few years, and August of 2017 continued the trend. Although the number of homes sold in the zip dropped from 28 to 26, the median sales price increased by 24.4% to $292,250! A large part of this increase is due to what happened in Bulle Rock; of the 26 homes that sold in Havre de Grace, 7 were in the neighborhood of Bulle Rock.

Another notable fact is that the time it takes to sell a home in Havre de Grace has dropped by almost 53% to only 48 days! What does that mean? Well, it takes a lot less time to sell a home in Havre de Grace now than it did last year.

The main reason for the higher real estate prices in Havre de Grace is less inventory. Last August, there were 166 homes for sale. This year, there were only 142 when the statistic was recorded, bringing the months of inventory down to 5.46 (they say that 4 months’ worth is a true seller’s market, and if that’s true, we’re getting there). Add to this the low level of interest rates (increasing buyer demand), and we have the recipe for what is definitely a seller’s market. I know buyers right now that have been looking for a home in Havre de Grace, and haven’t had luck for this exact reason.

If you’d like more information about the state of the market in your area, or you’re a Havre de Grace, MD resident and are thinking about buying or selling, feel free to contact me at (443) 866-6728, or scott@highpowerrealty.com. Be sure to check back in weekly for an update on a different zip code, and monthly to see the highlight of Havre de Grace real estate again.