If you are thinking about selling your home in Cecil County – you are probably wondering what buyers looked for in 2018, where they bought, and how much they paid. Homebuying preferences are slowly changing as younger buyers, Millennials and Generation Xers, enter and dominate the market. The features that buyers looked for in a home 10 years ago, or even 5 years ago, aren’t necessarily what homebuyers want in 2019. By comparing the attributes of your current home with recent buying patterns, you will have a better idea of how aggressively you should price your home when you list it and how long it will stay on the market.
In 2018, 1,300 Cecil County homes sold – meaning they went to settlement and there was a transfer of title to new owners. Even though the number was down 8.96% from 2017 when 1,428 homes sold, it was still a good year for Cecil County real estate as most homes appreciated in value. Looking at the county overall, the average selling price in 2018 was $231,751 – the number was up 1.73% from 2017.
So, let’s drill down on 2018 buying patterns by looking at the selling prices, square footage, # of bedrooms, and # of bathrooms that Cecil County homebuyers opted for most often. Some of the results may surprise you.
Closed Sales in 2018 by Sold Price Range
Of the homes sold in Cecil County last year, 472 of them were in the $200,000 – $2999,999 price range. That equates to 36% of the market. Next was the $100,000 – $199,999 price range with 358 homes sold or 28% of the market. The third most popular price range was $300,000 – $399,999 with only 182 homes sold or 5% of the market.
Closed Sales in 2018 by Square Foot Range
Of the homes sold in Cecil County last year, 188 of them were in the range of 1,200 – 1,399 SqFt making up 14% of the market. Next was the 2,000 – 2,499 SqFt range with 155 homes sold or 12% of the market. Two separate ranges, 1,400 – 1,599 SqFt and 1,600 – 1,799 SqFt, tied for third place with 117 homes sold for each or 9% of the market each. We saw decreasing percentages as homes increased in size. For example, 72 homes sold within the 3,000 – 4,000 SqFt range making up only 6% of the market.
Breaking it down a little differently, 330 homes sold within the 1,400 – 1,999 SqFt range making up a whooping 25% of the market.
Closed Sales in 2018 by # of Bedrooms
Of the homes sold in Cecil County last year, 643 of them had 3 bedrooms making up 49% of the market. Next were the 4 bedroom homes with 346 homes sold or 27% of the market. Finally, 164 homes with 2 bedrooms sold or 13% of the market. Only 55 homes with 5 bedrooms sold or 4% of the market.
Closed Sales in 2018 by # of Bathrooms
Of the homes sold in Cecil County last year, 498 of them had 2 bathrooms making up 38% of the market. Next were the 3 bathroom homes with 379 of them sold or 29% of the market. Finally, 216 homes with only 1 bathroom sold or 17% of the market.
Location, Location, Location
Cecil County encompasses a diverse geographic area with a large variety of communities, home value ranges, and home types including detached homes, townhomes, and condominiums. While a couple of zip codes depreciated in 2018, others saw significant increases in home values.
Let’s take a look at the way your home’s value and marketability might be affected by its location by breaking down each zip code in Cecil County by average selling price in 2018, % change in average selling price from 2017, and the average number of days homes stayed on the market in 2018 before going under contract.
|Sold Price||From 2017||D.O.M|
|North East, 21901||$244,701||3.24%||80|
|Rising Sun, 21911||$232,260||0.79%||60|
|Port Deposit, 21904||$264,681||14.92%||69|
|Chesapeake City, 21915||$263,933||-11.54||43|
What Does All This Mean?
In 2018, the typical Cecil County buyer purchased a home in the $200,000 – $299,000 price range. The home tended to be under 2,000 SqFt. It had 3 bedrooms and 2 bathrooms. On average, it took 82 days for a home to sell.
This doesn’t mean your home won’t sell if it differs in price, size, or other features. However, the farther removed from the norm your home is, the longer it will most likely stay on the market because there are fewer buyers.
The Elkton zip code, 21921, was by far the most active in 2018 with 534 homes sold. North East, 21901, was the second most active zip code with 261 homes sold. Perryville, 21903, was in third place with 115 homes sold. Rising Sun, 21911, was close behind with 110 homes sold.
There are several guidelines that any seller should follow before listing their home. These include fixing any known problems and thoroughly decluttering the home. To get top dollar for your home, it will need to be in meticulous condition both inside and out. Two extremely important elements to consider when marketing any home are Curb Appeal and Web Appeal. By Curb Appeal, I mean the visual appearance that greets buyers when they first drive up to your home. By Web Appeal, I mean the online photography of your home used to entice buyers to take the next step and schedule a tour.
For more info about getting your home ready to go on the market, see: 4 Tips To Prepare Your House, And Yourself, Before Listing.
Is this a good time to sell my house?
The answer: Yes! There is no question that Cecil County has a listing inventory shortage at this time. Cecil County is becoming a hot spot for more and more buyers who are ready and willing to buy and financially able to do so. There are more buyers than there are homes for sale.
Why are homebuyers looking to Cecil County as the place to call their home?
- Cecil County real estate remains a solid buy when compared to neighboring Harford County, Maryland and nearby areas in Delaware.
- I-95 makes Cecil County easily accessible to Baltimore, Philadelphia, and Wilmington.
- Cecil County is poised for a surge in employment opportunities.
- Cecil County is a great place to live – it’s as simple as that.
Why don’t some homes sell?
As brisk as the Cecil County real estate market was in 2018, there wasn’t a buyer for every home listed for sale. I’m talking specifically about the listings that expired or were taken off the market by frustrated sellers. Off course, it’s impossible to speculate why a house didn’t sell. Obviously, something went very wrong.
When a home doesn’t sell, it’s very often due to pricing or condition. I feel that many homes don’t sell due to the poor quality of photography used online. Sometimes it’s the choice of real estate agent. Sometimes it’s the lack of chemistry between the sellers and their real estate agent. When listing a home, I often explain to sellers that I will be a part of their family for many months to come – so it’s important that we get along and understand each other. Keep in mind, most expired/withdrawn listings sell after being relisted with a different real estate agent with a different approach.
If you find yourself in this situation, take a couple of minutes to read: Why didn’t Your House Sell?
How much is your Cecil County home worth in today’s market?
Click here to provide your address and contact information. I will get back to you with a free valuation of your home after researching current listings and recent sales activity in your neighborhood. Or feel free to reach out with a phone call or an email to discuss the of marketing of your home.
I am a local real estate agent with Integrity Real Estate specializing in Cecil County Homes.
In 2018, Integrity Real Estate outperformed its Cecil County competition based on the total number of listings sold.
I hope you found this post helpful if you are thinking about selling your home.
All information was obtained from MarketStats by Showing Time. Data Source: MRIS.