Hagerstown Maryland Real Estate Residential Homes Market Report 2008

By
Real Estate Agent with Re/Max Achievers

Well 2008 has come to an here is home the Hagerstown Maryland Real Estate Market fared.

Here is a snapshot of residential home sales in Hagerstown MD over the past 5 years

 

Homes sold

2004-1343

2005-1559

2006-1136

2007-847

2008-740

Average Price

2004-$188,204

2005-$241,273

2006-$246,659

2007-$234,255

2008-$214,981

Days on the Market

2004-48

2005-43

2006-90

2007-148

2008-164

 

As you can see the number of sales have greatly decreased and days on the market have greatly increased over the past years. In addition average prices in Hagerstown are declining and only now above 2004 levels.

Currently the home inventory in Hagerstown is at 781.

My prediction for 2009 will be more of the same of what we saw in 2008 although many factors can influence the outcome. We'll have to wait and see.

RATES are fantastic now, for one thing and buyers do seem to be coming back out!

 

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