Annapolis MD Market Statistics- The Real News
Once again the National news channels are spitting out doom and gloom in regards to the real estate market. Grant it... the news is not all Mom and Apple Pie even when you bring it down to the local level but it is not dire and the sky is not falling as the newscasrters would like you to believe. At least not here in Annapolis MD.
Locally we are chugging along. We are fortunate that we have one of the lowest unemployment rates in the country... 7.4%. Compare that to Florida 11.6%, California 12.2%, District of Columbia 11.5%, Texas 8.5% and North Carolina 10.1% we are doing extremely well. Virginia is doing a tad better coming in at 7.1%.
When our National Association of Realtors (NAR) publishes their statistics it is done so on a National level, after all the association is a national one and not a local one. However multiple list (MRIS) allows us to disect our market right down to our Annapolis MD zip code. We can check statistics on a county level as well but lets get real local and do the zip codes. The following statistics are for the 3 zip codes that makes up Annapolis MD.; 21401, 21403, and 21409. Lets get started and see what is really going on in our community.
The figures below are based on a comparison of the January to July 2009 and 2010 statistics and not a whole year
| Zip Code 21401 | 2009 | 2010 | % Change |
| Average Sales Price | $473,542 | $450,805 | Down 5% |
| Average Days on Market | 160 | 136 | Down 15% |
| Average # Homes Sold | 213 | 246 | Up 14% |
| Average List Price to Sales Price | 87.37 | 87.98 | Up 1% |
| Zip Code 21403 | 2009 | 2010 | % Change |
| Average Sales Price | $460,807 | $458,896 | Down -1% |
| Average Days on Market | 220 | 120 | Down 46$ |
| Average # Homes Sold | 26 | 22 | Down 15% |
| Average List Price to Sales Price | 86.54 | 87.81 | Up +1% |
| Zip Code 21409 | 2009 | 2010 | % Change |
| Average Sales Price | $461,990 | $461,506 | Down -1% |
| Average Days on Market | 167 | 141 | Down 16% |
| Average # Homes Sold | 15 | 19 | Up 22% |
| Average List price to Sales Price | 89.45 | 88.91 | Up -1% |
Is the real estate picture all rosey and without challenges? Of course not. Buyers locally are being very conservative and taking their time making a decision. Lenders are being conservative as well and are in a constant flux as to loan parameters and what is or is not needed. To sell a home in todays market reality Sellers must be very competively priced, in tip top shape and must remove themselves from what they want for their home and in tune with what Buyers are willing to pay for their home.
But all in all our local market is doing much better than many. We are fortunate indeed. So please, DO NOT listen to the National News reports and instead call a local agent, like me, who knows what the market in your neighborhood is really doing.
Martha Brown is a Realtor® with Long & Foster Real Estate. 410-440-7839 cell 800-735-5122 ofc
www.TheRealEstate-Lady.com
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