It was a little chilly in Harford County in February, 2017, but the real estate market in Abingdon, MD was steamier than usual! 37 homes changed ownership in the month, which was 37% over the same time a year ago. The median sold price was just below the average for the state at $210,000, which isn’t a surprise with as many townhomes as there are in that area. Surprisingly, it took a little longer to sell a home in Abingdon, MD that month, but still lower than most areas at 67 days.
The number of active listings actually went up a bit this month from 112 to 128, as people took the opportunity to list in order to take advantage of the rising home prices. Since Abingdon is generally ahead of the curve, we can expect this trend to spill over into other areas. Even with the higher number of active listings, the absorption rate (the number of months it would take to “sell out” inventory; a healthy market is 4 months or less in most cases) was 3.76 in Abingdon, MD.
The highest-priced sale was a new build in the Laurel Ridge community by Toll Brothers (picture included is a rendering) which sold for $600,512.