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.
While we’re still waiting for the final numbers to come in for September, we can still take a look at what happened in residential real estate in Abingdon, MD during the month of August, 2016. It Is no surprise that in what is usually a fairly hot market, there was a ton of activity. But despite the sheer volume of sales in such a small market, some of the metrics are actually down from a year ago.
The total sales volume was just over $13 million for the month, made up from 59 closed sales. The amount of closed homes was actually up over 58% from last August, but the median sales price is down 16.7%, meaning that there were a lot more homes sold at lower prices. It also took slightly longer to sell a home in Abingdon this year as opposed to last year; the average length of time it took to sell a home that closed in Abingdon in August was 58 days.
The highest sales price for the month was a single family residence in Monmouth Meadows on Royal drive, which sold for $415,000. Of all of the rest of the sales, there were four condos, 30 townhomes, and 25 single family properties.
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