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Edgewater MD... Let's Talk Edgewater Real Estate for December 2012

By Martha Brown

Real Estate Agent with Long & Foster Real Estate, Inc., Annapolis MD 21403 DRE# 319853

January 22, 2013 02:42 AM

Edgewater MD... Let's Talk Edgewater MD Real Estate for December 2012

Why do people live in Edgewater?
Edgewater is located just 10 minutes south of Annapolis and offers homes in all styles and sizes. People like it's easy proximity to Annapolis and commuter routes to Washington DC. Edgewater offers many communities with water access and ease of shopping and restaurants in the Edgewater zip code. Home prices range from $69,000 for a 600 sq. ft. cottage to $1,650,000 for a 3,000 sq. ft. waterfront haven.

So what is happening with the Edgewater marketplace? Like many areas in and around Annapolis inventory is dropping however the sales in Edgewater are dropping too. Since the last market report in November inventory has dropped another 12% and sales have been taking a steady downward spiral since August. More hard to swallow is the news that sales dipped 35% when comparing year over year. On average Edgewater homes are selling for 94.18% of their asking price. Compared to some other areas around, Edgewater is taking longer in gaining consistent strength. Months of inventory 6.2 months.

Edgewater Market Report for December 2012

Active Homes for Sale

As of today there are 105 homes for sale
Of These:
26 are Waterfront (Up 3)
12 are Townhouses or Condos (Down 2)
6 are Foreclosures (Down 1)
9 are Short Sales (Down 1)

Under Contract

47 homes are Under Contract
Of These:
1 is Waterfront (Same)
8 are Townhouses or Condos (Same)
3 are Foreclosures (Down 1)
20 are Short Sales (Down 1)

Homes Sold In December

17 homes sold in the month of December
Of These:
2 were Waterfront (Down 3)
3 were Townhouses or Condos (Same)
2 were Foreclosures (Down 3)
3 were a Short Sale (Same)

$57,750 was Low Sales Price
$1,235,000 was High Sales Price
$349,999 was Median Sales Price

Edgewater has 6.2 months of inventory

Market Absorption/Inventory Rate

0-4 months is considered a Sellers Market
5-6 months is considered a Normal Market
7 months and above is considered a Buyers Market

Click here to view all Edgewater homes for sale

Edgewater Market Report for November 2012

Note: This and previous market reports are for the entire Edgewater zip code of 21037. There are many communities within the Edgewater zip code and market conditions can vary from community to community. To know your homes value in today's market please call/text or email me
for a FREE Market Analysis.