Severna Park First-Time Homebuyer Report for January

With 37,634 residents, Severna Park is a larger than average city in Maryland. Also, with a 6.7% increase over the last 10 years, its population is growing slightly faster than other parts of the state. With an ownership ratio of 86.2%, the vast majority of people in Severna Park are homeowners. Leading the list of top schools in the city are Benfield Elementary School, Severna Park Middle School, and Severna Park High School.

Culture

According to Foursquare, Brian Boru is the most popular spot to grab a drink in Severna Park. You might also try Starbucks, a popular place to get a cup of coffee. Lastly, Kohl's, Giant Food Market, and Safeway are well-known places to shop.

Price Range

Severna Park has some of the more expensive homes in the state with a median home value of $419,800 and a current average list price of $593,413. The Severna Park market pulled back with an 18.6% sales drop in this week's report. Overall sales numbers for the last 30 days fell below the 38.5 monthly average with 35 homes sold.

Curious as to which homes have been getting the most attention in Severna Park? These listings have stirred up interest and produced the most views:

$160K   $764K   $1.8M  

Typical Dwelling

The typical dwelling in Severna Park is a four-bedroom detached home worth about $562,707. To purchase a similar home, a buyer with good credit and a $112,541 cash down payment could obtain a mortgage with a 3.95% interest rate and a $2,258 monthly payment. The property tax rate is $10.70 per $1,000 of taxable assessed value.

Get started right now by checking out Severna Park homes for sale or reviewing Severna Park real estate trends.


Data reported through 1/12/2017

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