Fortmeadehomes' Blog: Severn Real Estate

We're holding steady on number of sales in the Severn real estate market for the month of September and it looks like the average sales price is also stabilizing with an overall year over year decrease of just 8% as compared to several double digit decreases in previous months.

The high sale this month was $650,000 for a new construction home in Glen Gary Farms a 3 home subdivision.  

The low sale for the month was $142,000 for an end unit townhome located in Spring Meadows.

There were 4 foreclosure properties sold and two short sale properties sold in Severn this month.

Of those bank foreclosed properties the most notable was a single family home with pool located in Colonial Park that last sold for $697,000 in 2006 and recently sold for…

Looking for a great home close to Fort Meade?  We've just listed a fabulous new property less than 5 minutes from the base.  Features include vinyl siding, new windows & front door, remodeled kitchen and more.

You can view this home on-line for additional photos and information!

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. 

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Looking for a great home close to Fort Meade?  We've just listed a fabulous new property less than 5 minutes from the base.  Features include a heated inground pool, beautifully remodeled kitchen & baths, screened porch addition, covered patio, fireplace and much more.  

You can view this home on-line for additional photos and information!

Just took a look at the final sales states for Anne Arundel County in July and they are a bit surprising.  Based on the volume of sales we are seeing on our family team I would have guessed we had another record month for Fort Meade real estate.  While the county as a whole was up 17% the areas immediately surrounding Fort Meade saw a decline in volume and home values.  Bring on the BRAC!

I pull these reports manually from the MLS sold data.  I've compared them to the monthly reports provided by MLS and there are very slight differences in  our data which I'm assuming relate to the entry date or update of the listing.   Not sure why that is, but I'm recording only units sold between the 1st and the last day of the month. 

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Fort Meade BRAC is undoubtedly the hottest topic affecting Anne Arundel County real estate in 2009.  Despite all the buzz it is very difficult to find one source that provides the answers to the most asked questions which are:

(1)    How may people/jobs will be coming to Fort Meade as a result of BRAC?

The answer is 5,400 which includes 4,300 DISA military, civilian, and contractor personnel.  While I've seen huge numbers bantered about on other real estate web sites and BLOGs (up to 30,000) that larger number takes into account all Maryland BRAC transfers...the bulk of which are going to points north of us including Aberdeen Proving Grounds.   

(2)   When will the new employees be arriving?

DISA which makes up the bulk of this transfer at about…

We've seen a huge increase in activity that we really expected to come out in the stats this quarter but it didn't.  In hindsight it looks like the increase we are feeling as Fort Meade area real estate professionals is actually due to the decrease in the number of Anne Arundel County real estate agents.  Our volume has almost doubled year to date and we've had to grow our team by one additional full-time Realtor and a part-time assistant.

Here's the most recent analysis of both 1st and 2nd quarter sales comparing 2008 to 2009

Odenton Maryland 21113     1st Quarter  Average sale price Days on market Number of homes…