Severna Park, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Severna Park, MD Real Estate Data


Severna Park Housing Market Information

With a population of 39,292, 13,056 total housing units (homes and apartments), and a median house value of $531,817, Severna Park house prices are not only among the most expensive in Maryland, Severna Park real estate also is some of the most expensive in all of America.

Severna Park is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Severna Park than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Severna Park. Owner-occupied housing accounts for 91.67% of Severna Park's homes, and 74.87% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Severna Park built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Severna Park built between 1940-1969 ( 35.78%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.00%). There's also some housing in Severna Park built before 1939 ( 3.26%).

Severna Park Home Appreciation Rates

Severna Park's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Severna Park during the period has been just -0.85%, which is lower than 70% of US communities.

Over the last year, Severna Park appreciation rates have trailed the rest of the nation. In the last twelve months, Severna Park's appreciation rate has been 4.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Severna Park were at 1.10%, which equates to an annual appreciation rate of 4.48%.

Relative to Maryland, our data show that Severna Park's latest annual appreciation rate is lower than 50% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$531,817

Severna Park, MD HOME PRICES

Value Range
> $1,104,000 5.6
$828,001 - $1,104,000 6.7
$552,001 - $828,000 33.6
$441,001 - $552,000 20.4
$331,001 - $441,000 19.3
$221,001 - $331,000 9.4
$110,001 - $221,000 3.3
$55,001 - $110,000 0.3
$0 - $55,000 1.5

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
5.34637231363823 10.2661596958175

Number Of Homes And Apartments:
13,056

Rent & Ownership

 

Average Market Rent:
$2,089 / per month

Homeownership Rate

Homeownership
Owners 91.67
Renters 8.33
Vacant 4.25

Housing Market Details

 

Age of Homes

AGE OF Severna Park HOMES
2000 or Newer 10.0
1970 - 1999 51.0
1940 - 1969 35.8
1939 or Older 3.3

Types of Homes

TYPE OF Severna Park HOMES
Single-Family 93.9
Townhomes 2.7
Small Apt. Buildings 0.9
Apt. Complexes 2.5
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Severna Park HOMES
No Bedroom 0.08
1 Bedroom 1.71
2 Bedrooms 7.87
3 Bedrooms 33.70
4 Bedrooms 41.17
5 or more bedrooms 15.47

Severna Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
93.00% 3.94% 9 10
* 10 is highest