Towson, MD 21286 Market Trends Report 8/6/11
My independent MRIS research shows that 4% of the current active residential inventory in the 21286 zip code is distressed (short sale or bank owned).
There are currently 94 active listings on the market. Most of these properties are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day’s on the market for these active properties is 139.
There are currently 25 properties under-contract. These buyers have found and are expecting and getting a great value-a good property at a good price and with all the competition for their attention, they have a lot of choices.
There were 24 listings that expired or were withdrawn from the market in the last 60-days. The average day’s on market was 140.
There were 38 properties that sold in the last 60-days. The average day’s on the market was 69. Seller’s got 96.44% of list price.
Buyers have a sense of what’s fair market value and what’s not and they just won’t show up if sellers are not in the ballpark. There is currently 6.06 months of inventory on the market in the 21286 zip code.
It’s very important that sellers price the property correctly and competitively. Buyers are looking for value pricing and if sellers don’t meet these expectations, they’re property will be overpriced and overlooked.
Prepared By:
Aaron Rice, CDPE, CIAS, CLHMS, CRS, GRI, SHS
Keller Williams Realty Baltimore
443-244-0051 C
410-342-4444 O
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