Average Sale Price as a percentage of Average List Price - 90.93%.
Source: Metropolitan Regional Information Systems, Inc (MRIS)
I'm not a big fan of Average and Median Sold Price Numbers. Many variables can skew the data. A large sale ($1-$2 Million Dollars) can raise the average sold price but not be characteristic of what's going on throughout the entire market. In April, 49 homes sold. 38 of those homes sold between $200,000 to $399,999 range.
We know that the market has significantly slowed down but it bears repeating with the help of numbers. As you can see, it took an average of 118 days to sell these 49 homes in Pasadena, MD. 29 homes sold in less than 120 days on the market and 20 sold with more than 120 days on the market. The main theme I want to say here is that homes are still selling! No matter how "bad" the media or others say the housing market is houses will sell. It may take close to 120 days in Pasadena, MD to sell them, but houses are selling.
So what's the 90.93% mean? Well, it means that a house, in April 2009 in Pasadena, MD, sold for 90.93% of the original asking price. In other words, if a house is listed for $100,000 it sold for $90,930 in April. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any).
All this adds up to the simple fact that we all know....it's a buyer's market. If you're a seller, you need to be prepared to understand that you may not receive the full price you're looking for and you may need to entice buyers with incentives. If you're a buyer, you're looking at great deals with great interest rates.
One last thing to mention - we get it. Michelle and I understand that there are sellers who have put a lot of blood, sweat, and tears into their home and we want to help them, realistically, get all they can for the price of their home. If you're a buyer, we understand that you're sitting and waiting for the bottom of the market to hit before you buy. Question is, when will you know when the market bottoms out? Answer is, when the market makes a comeback and it's too late for great deals!
Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.operationhomefront.net. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.
Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.
"Mother love is the fuel that enables a normal human being to do the impossible." Marion C. Garretty, quoted in A Little Spoonful of Chicken Soup for the Mother's Soul.
On this special day I want to thank my Mom for all the fuel she provided to me in my life! Without her I would not be where I am today.
I would also like to take this time to wish all the Mothers out there a very Happy Mother's Day!
.34 Acres on Hines Pond in water privileged community of Venice on the Bay. Bay Views, private, beautiful location, surrounded by nature. Fish and kayak right outside your front door! Great opportunity to build your dream house on the water. Needs new septic, perked in 2007.
For more information about this property, cal Michelle at 443-904-2124.
Great opporitunity to live in sought after water privileged community of Bauernschmidt Manor. Large double lot, fenced yard, large shed, waterviews from back yard/deck. Community park/boat ramp. Cozy cape cod with hardwood floors, tile, fresh paint,eat in kitchen, clubroom, laundry room, work shop. Close to marinas, parks, school, shopping. Listing price is now $289,000. Maryland Waterfront Realty - 443-250-5423/443-904-2124.
Now that we have the first quarter statistics for the Crownsville, MD market, let's look at some of the revealing and not so revealing numbers.
A total of 8 homes have sold in the Crownsville area. It has taken over a year to sell. The most compelling statistic in the Crownsville area is the number of houses that have sold in the $300,000 to $399,999 range. This year, 2 homes have sold in this price range yet there are now 24 active listings in that price range. That's an increase of 8 active listings in Crownsville, MD this year so far!
If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.
Source: Metropolitan Regional Information Systems, Inc (MRIS)
Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.
Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.
Market Statistics for Crownsville, MD in March 2009:
Number of Homes Sold - 3
Average Sold Price - $739,667
Median Sold Price - $650,000
Average Days on the Market - 535
Average Sale Price as a percentage of Average List Price - 74.74%.
Source: Metropolitan Regional Information Systems, Inc (MRIS)
We know that the market has significantly slowed down but it bears repeating with the help of numbers. As you can see, it took an average of 535 days to sell these 3 homes in Crownsville, MD. 1 home sold in less than 120 days on the market and 2 sold with more than 120 days on the market. The main theme I want to say here is that homes are still selling! No matter how "bad" the media or others say the housing market is houses will sell. It may take close to 535 days in Crownsville, MD to sell them, but houses are selling.
So what's the 74.74% mean? Well, it means that a house, in March 2009 in Crownsville, MD, sold for 74.74% of the original asking price. In other words, if a house is listed for $100,000 it sold for $74,740 in March. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any).
All this adds up to the simple fact that we all know....it's a buyer's market. If you're a seller, you need to be prepared to understand that you may not receive the full price you're looking for and you may need to entice buyers with incentives. If you're a buyer, you're looking at great deals with great interest rates.
One last thing to mention - we get it. Michelle and I understand that there are sellers who have put a lot of blood, sweat, and tears into their home and we want to help them, realistically, get all they can for the price of their home. If you're a buyer, we understand that you're sitting and waiting for the bottom of the market to hit before you buy. Question is, when will you know when the market bottoms out? Answer is, when the market makes a comeback and it's too late for great deals!
Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.
Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.
Now that we have the first quarter statistics for the Annapolis, MD market, let's look at some of the revealing and not so revealing numbers.
A total of 61 homes have sold in the Annapolis area. It has taken anywhere between 5 - 7 months to sell. The average price is a number that can be greatly skewed by the sale of a $1 million dollar home, so we'll leave that statistic alone. The Average Sale Price as a percentage of Average List Price over the 3 month period ranges from 85% - 88%. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any). In other words, sellers should expect to get between 85% - 88% of their asking price. A most compelling statistic in the Annapolis, MD market is the increase in number of active listings that have come on the market in the $350,000 - $399,999 range. At the beginning of the year, there were 417 active listings in Annapolis. At the end of March, there were 464 active listings. That's an increase of 47 active listings for the year. Consequently, there were 27 active listings between $350,000 and $399,999. At the end of March, there were 35. That's an increase of 8 active listings in that price range. Doing the math, 18% of the increased active listings that have gone on the market in Annapolis, MD are priced between $350,000 - $399,999. Remember, that in Annapolis, there is a large variety of homes for sale that range in price from $250,000 to $5,000,000 and over.
If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.
Source: Metropolitan Regional Information Systems, Inc (MRIS)
Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.
Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.
"The real voyage of discovery consists not in seeking new landscapes, but in having new eyes." Marcel Proust
What a wonderful quote to use to talk about the current housing market. To me, "having new eyes" simply means changing how I look at the current market and getting that message across to clients. I have heard, from so many, that they wish they would have sold their home when the market was hot. Sure, they would have received an inflated price for their home that would have pocketed a few dollars, but they also would have paid an inflated price for their next home. No one can have it both ways.
Now that we are in a buyer's market, most sellers will not get what they could have received a few years ago BUT they also will get a great deal when they buy another home!!! Now doesn't that look better than what the news is showing?
I chose this picture because everything is pure in the eyes of a child. Their thoughts, unlike our own, are not clouded by constant rationalization, or the woulda, coulda, shoulda scenario. They see everything as new in their eyes. As adults, we must change our way of thinking about the housing market and see everything as new and not think about what might have been.
Market Statistics for Annapolis, MD in March 2009:
Number of Homes Sold - 23
Average Sold Price - $502,135
Median Sold Price - $315,900
Average Days on the Market - 177
Average Sale Price as a percentage of Average List Price - 85.09%.
Source: Metropolitan Regional Information Systems, Inc (MRIS)
I'm not a big fan of Average and Median Sold Price Numbers. Many variables can skew the data. A large sale ($1-$2 Million Dollars) can raise the average sold price but not be characteristic of what's going on throughout the entire market. In March, 23 homes sold. 14 of those homes sold between $150,000 to $399,999 range.
We know that the market has significantly slowed down but it bears repeating with the help of numbers. As you can see, it took an average of 177 days to sell these 23 homes in Annapolis, MD. 8 homes sold in less than 120 days on the market and 15 sold with more than 120 days on the market. The main theme I want to say here is that homes are still selling! No matter how "bad" the media or others say the housing market is houses will sell. It may take close to 180 days in Annapolis, MD to sell them, but houses are selling.
So what's the 85.09% mean? Well, it means that a house, in March 2009 in Annapolis, MD, sold for 85.09% of the original asking price. In other words, if a house is listed for $100,000 it sold for $85,090 in March. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any).
All this adds up to the simple fact that we all know....it's a buyer's market. If you're a seller, you need to be prepared to understand that you may not receive the full price you're looking for and you may need to entice buyers with incentives. If you're a buyer, you're looking at great deals with great interest rates.
One last thing to mention - we get it. Michelle and I understand that there are sellers who have put a lot of blood, sweat, and tears into their home and we want to help them, realistically, get all they can for the price of their home. If you're a buyer, we understand that you're sitting and waiting for the bottom of the market to hit before you buy. Question is, when will you know when the market bottoms out? Answer is, when the market makes a comeback and it's too late for great deals!
Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.
Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.
Now that we have the first quarter statistics for the Odenton, MD market, let's look at some of the revealing and not so revealing numbers.
A total of 57 homes have sold in the Odenton area. It has taken anywhere between 4 - 5 months to sell. The average price is a number that can be greatly skewed by the sale of a $1 million dollar home, so we'll leave that statistic alone. The Average Sale Price as a percentage of Average List Price over the 3 month period ranges from 87% - 92%. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any). In other words, sellers should expect to get between 87% - 92% of their asking price. A most compelling statistic in the Odenton, MD market is the increase in number of active listings that have come on the market in the $300,000 - $349,999 range. At the beginning of the year, there were 170 active listings in Odenton. At the end of March, there were 193 active listings. That's an increase of 23 active listings for the year. Consequently, there were 28 active listings between $300,000 and $349,999. At the end of March, there were 38. That's an increase of 10 active listings in that price range. Doing the math, 44% of the increased active listings that have gone on the market in Odenton, MD are priced between $300,000 - $349,999. Equally as curious is the percentage of active listings that range between $200,000 and $399,999. At the end of March, there were 111 active listings in that price range from a total of 193 active listings. Another way to say this is that 58% of the active listings in Odenton fall between $200,000 - $399,999.
If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.
Source: Metropolitan Regional Information Systems, Inc (MRIS)
Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.
Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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