Sykesville, MD Real Estate Market Trends For December 2016
December shows several key positive points and slowing points in Real Estate Market Trends for Sykesville, MD. We expect these and expect them to be temporary. Sykesville is a smaller suburb, located further out comparatively to surrounding Maryland Suburbs. This area is a hot spot for first time home buyers looking for a home with land, and more affordably priced than they could get elsewhere.
The average sold price in December 2016 for a Sykesville, MD home was $361,116 which is stable for Market Trends in this area. Home values in this area have remained consistent, and continue to tick upwards as more families look in this area to raise their family. There are 106 listings currently on the market, 31 of them are new. This is a 38% decrease from Last year. With a smaller inventory, active buyers are looking at all their options. For a positive note on Sykesville's Market Trends, the number of properties sold increased by 23% compared to December 2015. Days on the market dropped from 99 to 76, both of these are favorable changes.
There are currently 17 new under contracts reported for December 2016, with a lower inventory this is not surprising. The List Price to Sold Price ratio of 96.5% shows homes are priced well, very little fluctuation.
The lower numbers of homes are the market compared with other areas is the result of 2 factors. Sykesville is considerably smaller compared with Ellicott city, and once people move into this area they tend to stay. This leaves buyers with a smaller selection of homes to choose from, which gives sellers the opportunity to get asking price for their homes.
As this area grows in popularity, so will home prices. If you've been considering putting your home on the market, talk with one of our agents. We'll help you set up a goal, time frame, and market it to get you top dollar.
Sykesville is located west of Baltimore in Carroll County, the quintessential small town of Maryland. This lovely spot has a quiet setting and four well-defined, beautiful seasons. Sykesville is home to affordable housing, outstanding education, abundant recreational opportunities, and plenty of shopping. It's proximity to major commuting routes are favorable for those who work in the neighboring cities, but prefer a relaxed setting to call home.
What does that mean for people looking to invest in Carroll County Real Estate? It means you want to use a local Realtor who knows the market REALLY well. Call a LOCAL Realtor to help you with your Carroll County Real Estate needs.
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Our experienced team here at EPIK Home Group loves telling you about the area with local neighborhoods updates and information. Real Estate is local, so you deserve a local Realtor who not only knows the housing market, but knows Howard County/Catonsville, the amenities, the local events and resources that you will need. Consistently in the top 1% of Realtors in Howard County/Catonsville, EPIK Home Group is here to help you with all your Real Estate needs!