Severna Park, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Severna Park, MD Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2018. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2016 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Severna Park Housing Market Information

With 39,292 people, 13,002 houses or apartments, and a median cost of homes of $583,890, 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 90.91% of Severna Park's homes, and 73.71% 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 ( 36.79%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.08%). There's also some housing in Severna Park built before 1939 ( 4.01%).

Severna Park Home Appreciation Rates

Real estate appreciation rates in Severna Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.36% during the period.

NeighborhoodScout's data show that during the latest twelve months, Severna Park's appreciation rate, at 4.94%, has been at or slightly above the national average. In the latest quarter, Severna Park's appreciation rate has been 0.84%, which annualizes to a rate of 3.40%.

Relative to Maryland, our data show that Severna Park's latest annual appreciation rate is higher than 60% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$583,890

Severna Park, MD HOME PRICES

Value Range
> $1,133,000 4.8
$850,001 - $1,133,000 7.1
$566,001 - $850,000 39.9
$453,001 - $566,000 18.8
$340,001 - $453,000 16.1
$226,001 - $340,000 8.4
$113,001 - $226,000 3.3
$57,001 - $113,000 0.3
$0 - $57,000 1.2

Very High for MD
Very High for Nation

Value Relative to Nation Value Relative to State
4.90510948905109 8.64661654135338

Number Of Homes And Apartments:
13,002

Severna Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
Compared To
America*
Latest Quarter:
2018 Q1 - 2018 Q2
Last 12 Months:
2017 Q2 - 2018 Q2
Last 2 Years:
2016 Q2 - 2018 Q2
Last 5 Years:
2013 Q2 - 2018 Q2
Last 10 Years:
2008 Q2 - 2018 Q2
Since 2000:
2000 Q1 - 2018 Q2
103.39% 3.91%
9
9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,223 / per month

Homeownership Rate

Homeownership
Owners 90.91
Renters 9.09
Vacant 5.40

Housing Market Details

 

Age of Homes

AGE OF Severna Park HOMES
2000 or Newer 11.1
1970 - 1999 48.1
1940 - 1969 36.8
1939 or Older 4.0

Types of Homes

TYPE OF Severna Park HOMES
Single-Family 94.2
Townhomes 2.2
Small Apt. Buildings 0.6
Apt. Complexes 2.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF Severna Park HOMES
No Bedroom 0.34
1 Bedroom 2.13
2 Bedrooms 8.00
3 Bedrooms 32.65
4 Bedrooms 41.06
5 or more bedrooms 15.82