Good news for Bowie homesellers: Days on Market in the 20715 zipcode were down in October more than 52% from the same month last year. Homes that sold in Bowie last month were on the market less than two months compared to four months in October 2008.
There's more good news... The number of homes sold is up 10% from last year.
The best news, however, is the fact that new listings and new non-contingent contracts are gaining balance in Bowie. If we also consider the contingent contracts, the total number of new homebuyers last month in the 20715 zipcode was 35 - vs. 28 new listings. I'm going to be watching this set of statistics for the next few months because it could be the first indication of a positive trend for Bowie home owners and sellers. (On the other hand, buyers may have missed the bottom of the market.)
Let's take a look at Bowie (20715) real estate statistics over the past five years:
Did you notice that last row of the chart? The selling price of homes, as a percentage of listing price, was 4% higher last month than it was in October 2008. In fact, it was up over 3% from September 2009. But don't get too excited over that one, because first time homebuyers typically ask for closing help. It's very likely that the net selling price to home owners was still in that 92% range.
Homebuyers, it's not too late to take advantage of the first-time buyers' tax credit, and now some current homeowners are eligible for a tax credit, as well. To see all Bowie homes (20715, 20716, 20721) for sale, click on this link:
Were you surprised to see Bowie homes priced over two million dollars? The Bowie-only home search lists every home in Bowie, starting with the most expensive. If you prefer to customize your home search for price range, home features, and zipcode, you can use the Home Search link at the bottom of this page.
Homesellers, contact me today for information about selling your home. It's never been more important to have an experienced local real estate agent at your side.
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