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Market Assessment - November 2009

By
Real Estate Agent with Coldwell Banker Residential Brokerage

The November 2009 data is now available at MRIS.com for Anne Arundel County, Maryland and other metro-Washington and metro-Baltimore counties.  To quickly summarize the November data, the average sale price fell by 11.17% while the dollar volume was up 54.62% from this time last year, while month over month was down 11.9%.  The likely cause of this is the first-time home buyer credit of $8,000 bumped up the October sales both year over year and month over month.  Remember, this time last year we were deep into the housing crisis with little to no activity in the real estate market.  What a difference a year makes!!!

Anne Arundel County Market Activity - Three Year Overview

Year-to-Year

Anne Arundel County - Year-to-Year 2009 2008 % Change
Total Sold Dollar Volume: $ 154,774,910 $ 100,101,191 54.62 %
Average Sold Price: $ 334,287 $ 376,320 - 11.17 %
Median Sold Price: $ 285,000 $ 314,500 - 9.38 %
Total Units Sold: 463 266 74.06 %
Average Days on Market: 122 149 - 18.12 %
Average List Price for Solds: $ 370,766 $ 434,822 - 14.73 %
Avg Sale Price as a percentage of Avg List Price: 90.16 % 86.55 %  

Anne Arundel County Market Activity - Three Month Overview

Month-to-Month

Anne Arundel County - Month-to-Month Nov. 2009 Oct. 2009 % Change
Total Sold Dollar Volume: $ 154,774,910 $ 175,680,472 - 11.9 %
Average Sold Price: $ 334,287 $ 349,961 - 4.9 %
Median Sold Price: $ 285,000 $ 285,000 0.0 %
Total Units Sold: 463 502 - 7.8 %
Average Days on Market: 122 130 - 5.4 %
Average List Price for Solds: $ 370,766 $ 388,439 - -4.5 %
Avg Sale Price as a percentage of Avg List Price: 90.16 % 90.09 %  

How Does Your Home Compare?

A comparable market analysis shows recent sales for homes similar to your own in location, type and style (for example single family home and colonials), size (for example bedroom and baths), and age.  The Stephen Howell Realty Group provides an online evaluation of your home using real-time data from the multiple listing service (MRIS - our MLS).  The evaluation is interactive, easy to use and best of all FREE.  Click here to get started now.

Information is believed to be accurate, but should not be relied upon without verification.

Posted by

Stephen Howell, Sales Associate, Coldwell Banker Residential Brokerage, Annapolis, MarylandIf you are interested in buying a home in Annapolis, Maryland or the surrounding area and want to tour any property currently on the market, or if you have a home to sell in Annapolis, Maryland and want a professional consultation on current market conditions, please contact Stephen Howell at 443-994-8043 or e-mail him at showell@liveinannapolis.com or visit his website at LiveInAnnapolis.com.

Stephen Howell came to Annapolis to enjoy the Chesapeake bay in 1994. What he discovered was a whole new lifestyle. Ever since Stephen Howell has been successfully helping others make the most of Annapolis, Maryland. You'll find that with the right professional by your side, you can Live the lifestyle and live, work and play in Annapolis Maryland.

Stephen Howell and Jackson (his hound-mix from the HSSC) maintains residences on the Chesapeake Bay in Annapolis, Maryland and Gulf Coast in Sarasota, Florida. He works in the Annapolis, Maryland real estate market. His website lets people search the Annapolis Maryland area MLS. Buyers can also search for waterfront homes along the Cheasapeake Bay. His website has current real estate data on Annapolis, Maryland.

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Comments(3)

Barbara Michaluk
Weichert Realtors | Phone Direct 240-506-2434 | 301-681-0550 office - Silver Spring, MD
Leisure World Specialist / Full Service REALTOR

Stephen, It appears that the government incentives for first time homebuyers and move up buyers is showing as a positive on the market.

Dec 13, 2009 12:47 AM
Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

Thanks for the article. We learn a lot from Active Rain blogs. Best Regards,

Dec 13, 2009 12:55 AM
Stephen Howell
Coldwell Banker Residential Brokerage - Annapolis, MD
Annapolis MD Homes For Sale 443-994-8043

I added the month-to-month data for November vs. October 2009.  While year-to-year there was a positive gain, month-to-month saw a slowdown.  This could be expected since the $8,000 first-time home buyer credit essentially "ran out".  While the extension to the credit should continue to stimulate the market, we're probably going to see further declines (as one would expect in December where the focus is on the holidays) before we see another bump in March and April before the next expiration of the housing stimulus expires.  While I like the idea that the government continues to provide stimulus to home buyers (especially now that long-time owners get $6,500 too in credits for buying and selling), the urgency went from at 12 (on a scale of 1 to 10) in October to a -2 (on the same scale of 1 to 10) in late November and December.  Expect the buying tempo to build after the holidays and before April 30th 2010!

Dec 13, 2009 01:28 AM