The local Real Estate market is slow for February 2017. This is a smaller town, so fluctuations in the market are more noticable. Days on the Market for homes in this area dropped, and units sold was only slightly reduced. Median Home Sales Prices went up, and inventory went down. These show a rebound in the spring market. Lets take a look at the major indicators!
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 which is often more affordable than other nearby areas. The drawback - commuting distance to Baltimore, Columbia, DC, etc.
Sykesville's local real Estate market shows Median hoems sales prices in February 2017 was $348,000 which is stable for Market Trends in this area.
There are only 90 active listings on the market for February, 53 of them are new. This is a 30% decrease from Last year. With a smaller inventory, active buyers are looking at all their options, but are moving quickly on homes they love.
There are currently 34 new under contracts reported in February 2017, many families looking to move to this area in Maryland. Sykesville's Local Real Estate Market is an excellent starting point for new families. The List Price to Sold Price ratio of 95.6% shows homes are priced well, not much fluctuation at all.
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. Local Real Estate development is growing but we still see a smaller selection of homes to choose from. This in turn, 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.
Click here to check out Sykesville MD Real Estate active listings right now! (Feel free to save this link, it updates as the Sykesville MD Real Estate market changes- you will always have the live market update).
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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!