Bowie MD Real Estate Trends - January 2012

“What zipcode?” is a question I must ask whenever someone asks about the real estate market in Bowie, Maryland.  That’s because Bowie covers such a large area that real estate statistics can differ widely from one zipcode to the next. 

In January, for example, the median home prices were up in 20720 from the previous year and down in 20715, 20716 and 20721.

The number of days on market – how long a property was on the market between the listing date and contract date – was up in 20715 and 20721 but down in 20716 and 20720, compared to January 2011.

Another way of looking at the market is to compare real estate statistics by month, rather than years:

Closings have gone down for the past three months in the 20715 zipcode of Bowie –  the area located north of Rt. 50 and west of Route 3.

Meanwhile, they have gone up for the past three months in the 20716 zipcode –  the area located south of Rt. 50 and west of Route 3.

In the 20720 zipcode, the area located west of 20715, closings fell during January after remaining consistent for two previous months.

Closings improved during December in the 20721 zipcode from November, but there were literally none in the entire zipcode, located west of 20716, during January 2012.

You can see from these highlighted statistics that one answer does not fit all when someone asks, “How’s the Bowie real estate market?” In fact, there can be equally huge differences from one subdivision to the next or even between townhomes and detached homes. 

That’s why I encourage anyone with questions about the real estate market in Bowie, Maryland, to contact me for more information.  I’ll be happy to go over recent real estate statistics with you and help you make sense of them.

P.S. There are 300 homes on the market in Bowie right now.  To view the listings, click on Bowie Homes for Sale.  These listings are updated daily, so you will have access to the same MLS information used by real estate agents and appraisers.

Real Estate Recovery or Not