The Nottingham spring market definitely blossomed in May, with 39 homes sold at an Average Sold Price of $216,962! This Average is higher than both the month before (April) - up just under $26,000, and also the year before (May 2011) - up $36,795!
The number of homes sold also increased: 12 more than April, and 21 more than last year. The time it took for them to go under contract decreased significantly, with the Average Days on Market in April 81 days higher than last month, and the DOM 51 days higher in May 2011.
Breaking down the Average Sold Prices for both Attached and Detached homes, we saw the Attached home price up over $19,000 from April and over $16,000 from last year. The Detached home sales were up over $50,000 from April and over $42,000 from May 2011. The market in Nottingham was definitely up in May, and let's hope it continues into the summer!
Real Estate Numbers - Nottingham, 21236 May 2012 April 2012 May 2011 Baltimore Co. May 2012 Average Sold Price $216,962 $190,963 $180,167 $254,101 Number of Homes Sold 39 27 18 685 Average Days on Market 81 162 132 104 Attached # Homes Sold 24 14 14 271 Attached Average Sold Price $183,179 $163,221 $166,286 $178,849 Detached # Homes Sold 15 13 4 414 Detached Average Sold Price $271,013 $220,838 $228,750 $303,359
Real Estate Numbers - White Marsh, 21162 May 2012 April 2012 May 2011 Baltimore Co. May 2012 Average Sold Price $221,333 $281,000 $323,500 $254,101 Number of Homes Sold 3 4 2 685 Average Days on Market 187 93 54 104 Attached # Homes Sold 0 0 0 271 Attached Average Sold Price - - - $178,849 Detached # Homes Sold 3 4 2 414 Detached Average Sold Price $221,333 $281,000 $323,500 $303,359
Even though these local real estate numbers by zip code give us a lot of information about how our local market is doing, much depends on the inventory sold that month. For example, a single family home's value can vary immensely by square footage, number of bedrooms and bathrooms, updates to the home, etc. Because of such variation, we expect the numbers each month to fluctuate a bit based on the inventory sold in that month.
If you would like to get more information specific to your type of home and your subdivision or immediate neighborhood, feel free to contact me by email at Rebecca@RebeccaJenkinsRealtor.com for this information.