The market made some adjustments this week and remains stable with normal seasonal adjustments, with more buyers searching for their first or next home. The weather has finally improved to summer heat but here in Maryland remains wet and I think this may be having some effect on the number of home buyers looking for new homes. The number of new listings has increased and the number of homes going under contract has also increased. The numbers boast an improvement in the housing market here in Maryland. There is speculation though that this increase in market activity is just due to seasonal adjustments though rather than market conditions and the reduction in the federal lending rates. It will be interesting to see how this all changes with the changes in the FHA and Jumbo loan limits and adjustments in the interest rates. Overall, it's still a great time to buy.
These figures are taken directly from our MRIS system and are believed to be accurate.
Glen Burnie, MD
New Listings 28 (increase 11 from last week) Total 471
Under Contract 10 (increase 4 over last week)
Settled Sales 9 (decrease of 4 from last week)
Anne Arundel County
New Listings 237 (increase of 74 from last week) Total 4407
Under Contract 90(decrease of 10 over last week)
Settled Sales 47 (decrease of 114 over last week)
Glen Burnie offers many affordable housing opportunities for those relocating to Ft. Meade and Annapolis. Glen Burnie is located north on 97 from rt 50 or north on Rt. 2 from Annapolis Naval Academy and east along 32 and north on 97 from Ft. Meade. It is a relatively easy commute from either base and only a couple short miles from the Curtis Bay Coast Guard Station too.
If you are thinking of buying or selling a home give me a call today and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building a lone is worth the plunge into todays market.