Are you thinking about buying, or selling, a home in Cecil County anytime soon? If the answer is “yes,” you will find this market report useful.
How is the Cecil County Real Estate Market doing as we enter the new year?
Let’s try to answer that question by comparing market data from the months of January, 2019 and January, 2018:
|Average Days on Market||99||117|
|Median Days on Market||70||61|
|Average Selling Price||$222,351||$218,205|
|Median Selling Price||$219,950||$217,250|
|Selling Price to Original List Price Ratio||91.9%||92.8%|
|New Pending Sales||80||76|
|Months of Inventory||4||3.68|
There’s no question that Cecil County’s Real Estate Market remained strong in January, 2019 as indicated by the increase in Average Selling Price and Median Selling Price over January of last year. However, the number of closed sales dropped as Months of Inventory climbed.
Months of Inventory is a statistic calculated by dividing the number of Active Listings by the average number of Home Sales over a given period – 12 months in this case. For January, 2019, Cecil County’s Months of Inventory was 4 meaning every listing in the county would sell in 4 months – given the current pace of home sales – an indicator of a seller’s market.
I feel that Cecil County’s real estate market is becoming more balanced. It’s possible for buyers and sellers to negotiate favorable (fair) deals. There’s no question that it’s a good time to sell a home in Cecil County assuming that asking price realistically reflects the property’s condition and location. When writing offers, buyers need to rely on their Realtor’s value estimates and write offers that are in line with real world values.
If you have questions about Cecil County Homes For Sale, call or text me at 410-218-6533.
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.
All information was obtained from MarketStats by Showing Time. Data Source: MRIS.
Home sales from the following Cecil County Markets are reflected in this report: Elkton Real Estate, North East Real Estate, Rising Sun Real Estate, Port Deposit Real Estate, Perryville Real Estate, Conowingo Real Estate, Earleville Real Estate, Colora Real Estate, Chesapeake City Real Estate, Warwick Real Estate, Cecilton Real Estate, Elk Mills Real Estate, Charlestown Real Estate, and Fair Hill Real Estate.