Aberdeen, MD Real Estate-Year End 2012

Overall sales decreased somewhat in the Aberdeen, MD real estate market for the year of 2012 compared to 2011, which is fairly consistent to the market in the rest of Harford County. For the year in Aberdeen, MD, 168 homes changed hands, down almost 13% from the 193 that sold a year ago. The average time it took to sell went down, though, with the average days on market dropping by 17%.

Despite the negative numbers, prospective sellers should still be smiling right now. The median sold price jumped slightly from $170,000 last year to $174,100 in 2012. With that, the year ended a little light, with 13 home sales, down from 19 in 2011. The absorption rate (the amount of inventory in the given market measured in months) has gone up slightly, probably due to the uncertainty in the market toward the end of the year relating to the fiscal cliff. Still, interest rates are still low and prices are below 2004 levels, so right now is the time to take advantage of real estate in Aberdeen, MD. To contact me for more information about selling or buying in this market, you can email me at scott@scottmillerrealestate.com or visit my website at www.scottmillerrealestate.com.