The real estate market in Aberdeen, MD during January almost mirrored the conditions from a year ago. Nine homes sold in Aberdeen this January, and nine sold during the same month a year ago. It took 89 days for those homes to sell, which is only up by 7% from the 83 days it took last year. The median price of a home that sold was only $95,000, which was a decrease of over 17% from last year.
The number of active listings is down everywhere, and Aberdeen, MD is no different. There are only 113 active listings in the 21001 zip code, which is a drop of almost 40% from last year. Of the homes that did transfer, three were purchased with cash, four used FHA financing, one opted for the rarely-used USDA, and the other sale was to a VA-insured purchaser.
Seeing flat sales numbers is not necessarily a bad thing. For the previous four seasons, we saw sales drop year over year, and now, the numbers seem to be bouncing along the bottom. What is rather notable is the number of contracts that are pending in Aberdeen, MD right now, which is up by almost 35% from last year. As long as these do close as planned over the next 30-60 days, we can expect to see a much stronger start to the spring season.
Find out what's happening in Aberdeenfor free with the latest updates from Patch.
For more information, visit www.scottmillerrealestate.com, or call me at (443) 866-6728.