Annapolis Waterfront Market Review- 2nd QTR 2013
We all know that when it comes to waterfront we have an abundance around Annapolis. After all we hold two major boat shows along our shores each year just for that reason and they always bring many new people who fall in love with the area.
As an Annapolis area Realtor I am asked all the time of what is going on in the waterfront market? With the market changing in so many areas to one with lack of inventory and multiple bids many potential buyers and sellers are thinking that is what is happening in the waterfront market too. Well the good news/badnews answer is not yet.
The Annapolis waterfront market has not quite joined the sellers market. Let's compare 2013 2nd qtr numbers to 2102 so you can see what I see.
This review is limited to the Annapolis zip codes 21401, 21403, 21409. Lets get started
2nd qtr sales for 2013 were 114 waterfront homes; for 2012 119 homes (a 5% decrease)
2nd qtr median sales price for 2013 was $645,000; for 2012 $795,000 (a 19% decrease)
2nd qtr days on market for 2013 was 141 days; for 2012 was 139 days
The number of $1,000,000 waterfront properties sold was 17 in 2013; 25 in 2012 (a 32% decrease)
Well as you can see, year over year, waterfront home sales have slowed which means if you are a buyer it IS time to step up and make your waterfront home purchase.
But what if you are a seller? If I was you and did not have to sell I would hold off a bit. If I had to or wanted to then I would show beautifully, price agressively and choose a hard working agent to get my home sold. Someone like me.
Want to talk or know more about buying or selling a waterfront home in the Annapolis area? call/text/email me today. I'm available to help you make sense of the Annapolis waterfront market.
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