Here's a chart showing home prices verses default rates that you might find interesting:
Prices and home values throughout Maryland are a little bit different, but default rates overall have slowed dramatically. The areas within closer commuting distance to Washington DC like Clarksville, Columbia, Ellicott City and into Elkridge, over into especially the upper part of Calvert County (Dunkirk, Owings, Huntingtown and even into Prince Frederick) up to Annapolis, Davidsonville, Crofton, Odenton and Gambrills, and then over to Crownsville, Millersville, Severna Park, Pasadena, and Glen Burnie, doing very well. and currently with the low inventory we are experiencing. Baltimore County is also doing quite well from Edgemere, Essex, Sparrows Point, to Parkville, Towson and Pikesville and over to Randallstown, and down to Catonsville, Arbutus, and Halethorpe, all are areas where nice homes that are priced well are selling quickly.
One reason is that many people who were underwater can now sell their homes and either break even or make some money since the local market is much better now. In fact, this Spring 2016 is the busiest we've seen since 2006.
We're looking for more nice homes to market for all of the buyers that are not able to find the homes they want. If you'd like a free market analysis, please give us a call and we'll swing by and show you recently sold homes and how yours compares, as long as what you might want to do in order to get it show ready!
This time of the year is the perfect time to put your house on the market if you're looking to sell during 2016!
Comments(0)