Severn Real Estate Update and Market Statistics for August 2009

Severn saw the first big increase in home sales in several months with a total of 26 homes sold.  While the statistics look grim on sale price which is down 31% that is misleading.  There were simply more large, luxury style homes sold in August 2008 and a much larger number of modest townhomes sold in 2009.  So while prices have gone down substantially it is not an overall 31% decrease over the previous year. 

Severn real estate remains a popular choice for Fort Meade area home buyers.  And with prices becoming more reasonable and great interest rates still holding strong we've seen a healthy upsurge in the amount of homes sold.  This could be a sign of overall stabilization but it's a bit too early to tell. 

Severn is one of the areas that will be feeling some positive effects of the BRAC relocation at Fort Meade.  So we've got our fingers crossed for a brief but welcome increase in the number of home buyers begining in late 2010.  Visit our BRAC BLOG for more information on how  BRAC will affect the Severn real estate market.

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