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market trends: Crofton Market Study - August 2007 - 09/10/07 09:51 PM
The Crofton real estate market has remained more stable over the last month than I anticipated, In fact, the Average Sold Price dropped only 5.43% from last year, while the Median Sold Price went up 3.04%
Total units sold were in line with last year's - 45 in 2007 and 41 in 2006. Days on Market were about the same as last year, too - 66 in 2007, only two more than the same month in 2006.
I was so impressed with these numbers that I decided to do an Absorption Rate comparison with Anne Arundel County, which had a less favorable month overall.
ABSORPTION … (4 comments)
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market trends: Anne Arundel County MD Real Estate Trends - SOLD PRICES - 09/10/07 01:36 PM
(January - August 2007)
MEDIAN SOLD PRICE is the half-way point between highest and lowest priced homes sold in a given area during a given period of time. Following the median sold price does provide one lens through which you might gauge trends in home selling prices. Another is average sold price.
AVERAGE SOLD PRICE is calculated by dividing the total sold $ volume by the number of properties sold in a given time. The average sold price is another lens through which you might gauge trends in home selling prices BUT it is seldom included in news reports about real estate trends … (9 comments)
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market trends: Anne Arundel County MD Real Estate Trends - DAYS ON MARKET - 09/09/07 10:02 AM
(January - August 2007)
DAYS ON MARKET go up and prices go down when new listings outpace new contracts for homes, as we've seen throughout 2007 in Anne Arundel County MD. The explanation is simple - supply and demand. Housing inventory simply exceeds the number of qualified buyers in the marketplace.
No turn-around in this situation is anticipated soon, unfortunately, since issues surfaced during August in the mortgage industry which resulted in the tightening of credit qualifications for homebuyers. Many lenders literally closed their doors and others severely restricted their loan programs. Popular "no-money down" conventional loans may now be history, eliminating a large percentage of prospective home buyers from the … (7 comments)
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market trends: Grab your umbrella, real estate is falling! - 07/25/07 11:17 AM
MarketWatch reports more bad news for real estate...
...on a national level. But it is important for you to remember that the real estate market is more accuratey measured on a LOCAL level.
Today's report by Rex Nutting for MarketWatch sounds very dire: Existing home sales fall to 5-year low of 5.75 million. He quotes National Association of REALTORS statistics that sales were down 11.4% in June 2007 from June 2006. Just yesterday, John Spence reported for MarketWatch that Home-builder stocks fall on renewed housing fears. Now I would like to call a "time out", please, to ask a question in the face of all this bad … (6 comments)
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market trends: Crownsville MD Real Estate - Market Report June 2007 - 07/15/07 08:07 AM
CROWNSVILLE MD 21032
Crownsville home owners will be glad to see better news for June than we saw for May... Five Crownsville homeowners did sell their homes in June at an average sale price of $749,343 - UP 49% from the Average Sold Price (and up 65.89% average Median Sold Price) in the same zipcode in June 2006. Another six homeowners accepted contingent contracts, i.e. the buyer has to sell their home in another area. That's eleven serious homebuyers ready to purchase a Crownsville home in one month, compared to just six in May. Things are looking up!
Let's look at the real estate sales statistics published … (0 comments)
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market trends: Davidsonville MD Real Estate - Market Report for June 2007 - 07/10/07 04:32 PM
DAVIDSONVILLE MD 21035
Davidsonville fared better than most zipcodes in the area last month, with ten new listings and six new sales. In spite of the higher price ranges in Davidsonville, there was only one contingent contract accepted. Yes, the inventory is growing, but the rate is much lower than surrounding zipcodes where new listings outnumber sales 3 to 1. Right now, there are only 60 properties on the market in Davidsonville, ranging from $349,900 to $2,650,000.
MRIS released their statistics today, comparing June 2007 to June 2006:
Unlike other zipcodes in the area, "Average Days on Market" have barely increased in Davidsonville, … (0 comments)
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market trends: Odenton Maryland Real Estate - Market Study for June 2007 - 07/10/07 03:25 PM
ODENTON MD 21113
The effects of BRAC are not being felt yet in Odenton (21113) - which kinda surprises me, given its proximity to Ft. Meade and the NSA. I expected savvy investors to start buying up property in Odenton long before now - and certainly now that the market has levelled off a bit.
According to June sales statistics released today by MRIS, the real estate market for Odenton (21113) remained relatively stable last month, consistent with the immediate surrounding area.
As I have mentioned in previous posts, the ratio of new listings and new sales is something I look for each month. In June … (0 comments)
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Margaret Woda, Maryland Real Estate & Military Relocation Services
Crofton,
MD
More about me…
Long & Foster Real Estate, Inc., Crofton, MD
Address: 2191 Defense Hwy., #120, Crofton, Bowie, and Davidsonville, MD, 21114
Office Phone: (410) 721-1500
Cell Phone: (301) 346-2923
Email Me
Real Estate and community information for homebuyers, sellers, and rookie agents in Bowie, Crofton, Crownsville, Davidsonville, Fort Meade, Gambrills, Odenton, Millersville, and the U.S. Naval Academy in Annapolis. Proven systems - combining local expertise, professional experience, and technology - to give you a competitive edge when you buy or sell a home.
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