Cecil County Real Estate Statistics
September 2010
Cecil County continues to see sluggish sales with 52 total sales compared to 65 in 2009 down by 20%. There were 11 foreclosures sold (21%) this September in Cecil County as compared to 9 last year (14%).The top end of the market is the slowest as there were no sales over $499,000 and only 2 total sales over $400,000. This will have the effect of lowering the average sales price in the county overall which is down by 19% from 2009 to $209,000.
Inventory remains high at 1,040 homes on the market and showing no signs of decreasing as there were 144 new homes listed in Cecil County during the month. This still remains the best time to buy a home in the last 20 years with interest rates this low and inventory high, but there is so much overall consumer uncertainty, Buyers are holding off making a decision.
As all Real Estate is local, I have broken down the statistics by town to illustrate the different markets.
Elkton and North East had the greatest number of sales as is expected although not as many as 2009. Perryville, Port Deposit, Conowingo, and Earleville's sales were all stronger then 2009. While Chesapeake City had no sales.
The bottom line is that we are still not out of the woods, but those homes that are selling are priced correctly for location, condition and market.
Steve Hubbell, Realtor® - Internet Marketing Specialist - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381
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