GOOD NEWS! The Perry Hall Real Estate Market in Baltimore County Maryland is starting to show signs that it has BOTTOMED OUT (at least in my opinion). Take a look at the graph below and notice the TOTAL DOLLAR SOLD VOLUME 2008 vs. 2007 (IT'S HIGHER IN 2008) and notice the AVERAGE SOLD PRICE 2008 vs. 2007 (IT'S ALSO HIGHER IN 2008 BY OVER 10%) and notice the TOTAL UNITS SOLD FOR THE MONTH 2008 vs. 2007 (MORE SOLD IN 2008) and notice the AVERAGE LIST PRICE VERSES SALE PRICE PERCENTAGE 2008 vs. 2007 (IT'S HIGHER IN 2008).
WHAT DOES ALL THIS TELL US?
The Perry Hall Real Estate Market in Baltimore County Maryland has definitely started showing signs that the market correction has ended here and prices are starting to go up again! More units are selling now than they were last year at this time and for more money (over 10% more in appreciation). So, the next time you turn on the news and hear that the real estate market is horrible and there are just soooooo many foreclosures, short sales, and auctions out there from people who can't make their payments, REMEMBER ONE THING.......................................
REAL ESTATE IS LOCAL, NOT NATIONAL!
If you would like to check your own zip code statistics, feel free to visit http://www.mris.com/reports/stats/zip_stats.cfm
Metropolitan Regional Information Systems, Inc. ZIP Code Statistics - <$100K to >$5M Format
ZIP Code: 21128 Perry Hall, MD
From: 10/01/2008 to 10/31/2008 Statistics generated on: 11/06/2008
| |
Residential
Unit Sales
Number of Bedrooms
|
Active Listings
|
|
Time on Market
|
|
Price Class
|
2
Or Less
|
3
|
4
or More
|
Condo
Coop
|
Ground
Rent
|
Residential
|
Condo
Coop
|
Ground
Rent
|
of Units Sold
(No. of Units)
|
|
Under $100,000
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
1 -30 Days
|
7
|
|
$100,000 - 149,999
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
31-60 Days
|
1
|
|
$150,000 - 199,999
|
0
|
0
|
0
|
1
|
0
|
2
|
0
|
0
|
61 - 90 Days
|
2
|
|
$200,000 - 249,999
|
0
|
1
|
0
|
2
|
0
|
5
|
5
|
0
|
91-120 Days
|
1
|
|
$250,000 - 299,999
|
0
|
1
|
0
|
2
|
0
|
8
|
12
|
0
|
Over 120 Days
|
3
|
|
$300,000 - 349,999
|
0
|
0
|
1
|
2
|
0
|
6
|
6
|
0
|
Total
|
14
|
|
$350,000 - 399,999
|
0
|
0
|
0
|
0
|
0
|
11
|
1
|
0
|
|
|
$400,000 - 449,999
|
0
|
0
|
1
|
1
|
0
|
10
|
0
|
0
|
Type of Financing
of Units Sold
(No. of Units)
|
|
$450,000 - 499,999
|
0
|
0
|
0
|
0
|
0
|
13
|
0
|
0
|
|
$500,000 - 599,999
|
0
|
0
|
2
|
0
|
0
|
22
|
0
|
0
|
Conventional
|
4
|
|
$600,000 - 699,999
|
0
|
0
|
0
|
0
|
0
|
5
|
0
|
0
|
FHA
|
5
|
|
$700,000 - 799,999
|
0
|
0
|
0
|
0
|
0
|
5
|
0
|
0
|
VA
|
1
|
|
$800,000 - 899,999
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Assumption
|
1
|
|
$900,000 - 999,999
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Cash
|
3
|
|
$1,000,000 - 2,499,999
|
0
|
0
|
0
|
0
|
0
|
1
|
0
|
0
|
Owner Finance
|
0
|
|
$2,500,000 - 4,999,999
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
All Other
|
0
|
|
$5,000,000 & Over
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
Unreported
|
0
|
|
Totals
|
0
|
2
|
4
|
8
|
0
|
88
|
24
|
0
|
Total
|
14
|
|
Grand Totals
|
14 |
112 |
|
2008 2007 % Change
|
| Total Sold Dollar Volume: |
$ 4,549,100 |
$ 3,226,900 |
40.97 % |
| Average Sold Price: |
$ 324,936 |
$ 293,355 |
10.77 % |
| Median Sold Price: |
$ 296,500 |
$ 277,400 |
6.89 % |
| Total Units Sold: |
14 |
11 |
27.27 % |
| Average Days on Market: |
99 |
86 |
15.12 % |
| Average List Price for Solds: |
$ 354,029 |
$ 322,654 |
9.72 % |
Avg Sale Price as a
percentage of Avg List Price: |
91.78 % |
90.92 % |
;)
Links;)
Archives
Michael, this is a great post and a great example of "location location location". That is great that your area has stabilized and in fact, perhaps, "hit a bottom". Im Is Perry Hall, MD the west side of Baltimore towards Towson ? I used to live in Columbia, Ellicott City and even Catonsville when I was younger and out of college. Miss it sometimes ! Thanks for a great post.