Sykesville, MD Real Estate Market Report For October 2016
Located west of Baltimore in Carroll County, Sykesville is the quintessential small town of Maryland. This lovely spot has a quiet setting and four well-defined, beautiful seasons. Offering an unparalleled quality of life, Sykesville real estate is home to affordable housing, outstanding education, abundant recreational opportunities, and plenty of shopping. It's proximity to major commuting routes make it desirable for those who work in the neighboring cities, but prefer a relaxed setting for their family life.
The average sold price in October 2016 for a Sykesville, MD home was $378,033 which is little over a 4% increase from this time last year. Home values in this area have remained steady, and continue to tick upwards as more families move further out for a better quality of life, and the excellent education system that's available here. Of the 117 listings currently on the market, 47 of them are new, a 34% decrease from this time last year. This inventory is lower than the previous year but days on the market have dropped from 61 days to a solid 53 days. That is very positive for Sellers, homes are not just sitting on the market, buyers are seeking them out, and putting in contracts right away on the ones they like.
There are currently 19 new under contracts reported for October 2016, a drop of just 13% from this time last year. There is not much inventory in this area now, but there are buyers looking for that new home. The List Price to Sold Price ratio of 96.8% 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. This area 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.
Ultimately we expect these numbers to remain stable, and for those buyers moving into this area, your investment is safe here. As this area grows in popularity, so will home prices. For Sellers, this year is a big year for real estate. If you've been contemplating putting your home on the market, take advantage of this years amazing real estate reports, it's a healthy market for all.
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).
LIKE US ON FACEBOOK TO FOLLOW OUR BLOG AND GET LOCAL INFORMATION!
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!
AS OF JANUARY 1ST 2016, EPIK Home Group of Keller Williams Realty Centre will be donating 2.5% of every commission check to “EPIK Kids in Action” Foundation.
The more homes we sell, the more money we can donate to “EPIK Kids in Action“. Our goal for 2016 is 200 homes. The 100th home sale we will donate 100% of the commission. If we hit our lofty goal of 200 homes we will donate 200% of the commission.