Special offer

Annapolis MD market Report for March 2012

By
Real Estate Agent with Long & Foster Real Estate, Inc., Annapolis MD 21403 DRE# 319853

 

Annapolis MD Market Report for Market 2012

annapolis market report

 

Annapolis is as diverse as the three zip codes that make up what we call Annapolis. Well actually there are a few more, such as the zip code for the Naval Academy, but we will focus on the three main zip codes 21401, 21403 and 21409. So lets get started

Just for a bit of clarification, but not exact by any means, the zip codes cover the following areas. 21401 covers all of Annapolis, West Annapolis, out to Parole, up Generals Highway a bit and down Riva Rd a bit. 21403 is the Eastport part of Annapolis and includes all the way to the Chesapeake Bay community of Bay Ridge. 21409 is basically the Annapolis area located on the other side of the Severn River all the way to the Chesapeake Bay Bridge. Each zip code is unique to itself including the homes, amenities and convenience offered.

 

March 2012 Market Update for Zip Code 21401

 

52- # of Homes Sold in March
255- # of Homes Available For Sale.
95- # of Homes Under Contract as of today

$1,200,000 High Sales Price
$120,000 Low Sales Price
$350,000 Median Sales Price

 

March saw a 27% increase of number of homes sold over February and a 43% increase over number of solds from March 2011. Inventory is holding steady as well as number under contract which means no shortage of available inventory however with more homes being sold that could change very quickly.


4.9 # of months of inventory for Zip Code 21401

 

March 2012 Market Update for Zip Code 21403

30- # of Homes Sold in March
257- # of Homes Available For Sale
105- # of Homes Under Contract as of today

$1,612,500- High Sales Price
$115,000- Low Sales Price
$367,500- Median Sales Price

March saw a 10% decrease in number of homes sold and stayed spot on for sales in March 2011. Inventory gained by 4% but the big news is number of homes under contract! A 29% increase over the previous month. New inventory hitting the market is keeping 21403 months of inventory high so there is no shortage of homes to buy.

 

8.5- # of months of inventory for Zip Code 21403


 

March 2012 Market Update for Zip Code 21409

22- # of Homes Sold In March
128- # of Homes Available for Sale
57- # of Homes Under Contract as of today

$1,100,000- High Sales Price
$130,000- Low Sales Price
$327,500- Median Sales Price


21409 saw some significant changes. 44% increase over previous month in number of homes sold and a 23% increase over March 2011. 16% increase in available inventory and a 25% increase of homes under contract. This dropped months of inventory down by 52%!!

5.8- # of months of inventory for Zip Code 21409

Market Absorption
0-4 months equals a Sellers Market
4-6 months equals a Neutral Market
7+ months equals a Buyers Market

Please keep in mind that prices are all over the board in all three zip codes due to the diversity of each area. Sales prices can change dramatically with one large or one small sale or from one neighborhood to the next as each zip code covers a wide area.

For a more detailed report on your particular home and area give me a call or shoot me an email. I will be happy to prepare a FREE market analysis for your home.

All data and charts pulled from the Metropolitan Regional Information Service (MRIS) and is deemed reliable at the time of preparing.
Posted by
*****************************************************

About the Author Martha Brown- As a third generation Annapolitan I love to write about my experiences in and out of the real estate market. Licensed since 1992 all with Long & Foster I am a Certified Residential Specialist (CRS) and a Seller Representation Specialist (SRS) whose passion is homes in the Annapolis MD area and surrounding communities. My goal is to help my clients understand the real estate market and to then make sound real estate decisions. 

 

Martha can be reached  at 410-260-2800 ofc or 

martha@homesaroundannapolis.com.

When searching for Annapolis area homes for sale

there is no better place than

www.HomesAroundAnnapolis.com

 

Have a real estate question?? 

 Ask Martha

 

 
         Bringing 'Peace of Mind' since 1992                  
 
All Photographs and/or written material and content produced by Martha Brown. All Rights Reserved and may not be reproduced or reprinted without express written permission of

Martha Brown of Long & Foster Real Estate.

320 Sixth Street

Annapolis, MD 21403

410-260-2800 office

410-440-7839 cell/text  

L&F LOgo


 

 

Comments (1)

John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Contact Realtor® Martha Brown for all your Annapolis MD real estate needs. 

Martha just wanted you to know I appreciate your support in the Rain and always look forward to your knowledgeable posts and comments. Make it a great day my friend! 

John

May 07, 2012 01:07 AM