Carlyn Lowery, Associate Broker, Lowery Home Team at eXp Realty, Annapolis and Anne Arundel County MD Real Estate

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Anne Arundel County Maryland Real Estate Market Statistics – August 2008

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The National Association of REALTORS® (NAR) reported a decrease in the rate of existing home sales through the month Surface of June, which fell 2.6 percent. NAR’s revised With home sales forecast now stands at 4.86 million units for 2008.

Despite the decrease, REALTORS® are reporting activity in all regions across the country. NAR president Richard F. Gaylord explains, “Timing the market can be very tricky, which is why home buyers should always have a long-term view to build wealth.”

Average (Mean) Sales Price of Existing Homes by Region

Date

U.S.

Northeast

Midwest

South

West

2006

268,200

299,700

205,300

230,000

371,300

2007

266,000

307,100

200,500

225,600

365,900

01/08

245,500

298,400

178,800

206,500

335,600

02/08

242,000

292,700

175,100

204,600

333,100

03/08

247,100

310,800

183,200

209,600

325,200

04/08

247,200

294,400

188,500

212,900

327,000

05/08

252,600

309,100

190,700

219,000

326,700

06/08

257,500

292,600

204,200

229,900

330,500

Statistics from the National Association of REALTORS®

To stimulate market activity, the Federal Housing Administration has increased loan limit guarantees for 2008. FHA programs are available with a modest 3 percent down payment, and allow borrowers more buying options when purchasing a home. The national median existing home price was reported at $215,100 in June, down from a year ago when the median price was $229,000 for all housing types.

Anne Arundel County figures for July 2008 are shown below.

2008 2007 % Change
Total Sold Dollar Volume: $ 163,200,495 $ 247,874,259 – 34.16 %
Average Sold Price: $ 397,081 $ 428,848 – 7.41 %
Median Sold Price: $ 332,900 $ 362,403 – 8.14 %
Total Units Sold: 411 578 – 28.89 %
Average Days on Market: 121 92 31.52 %
Average List Price for Solds: $ 437,012 $ 459,905 – 4.98 %
Avg Sale Price as a percentage of Avg List Price: 90.86 % 93.25 %

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data
Copyright 2008 – Information deemed reliable, but is not guaranteed.

P.S.  Call me today for all your Annapolis real estate needs.
Carlyn Lowery, Associate Broker, Keller Williams Annapolis : Real Estate Brokerage in Annapolis, Anne Arundel County, Maryland

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Here are some client reviews of Carlyn Lowery…

“Carlyn got us a quick sale above the asking price. She qualified prospects well, used a professional photographer for advertising photos, and provided expert advice during negotiations. Carlyn is what other Realtors aspire to be!”
– Paul Donnelly

“As first time home buyers, Carlyn Lowery was very attentive to our basic needs of walking us through each step of the home buying process from a novice standpoint. The long detailed list of items due at specific times from the start of the contract all the way through to the week of closing was greatly appreciated. It was great having an agent who took the time to clearly lay this all out for us. End result – a very smooth time at settlement. No surprises!”
– Ann Hannam

“We wanted a professional who would work with us to sell our home
quickly for a good price and protect our interests as sellers through the process.
Carlyn’s business acumen is her (and will be your) greatest asset.”
– Sue Bogard

“Carlyn was wonderful. She was organized, prepared, and knew the steps to take to sell our home quickly and used a wide array of marketing to get the job done. She gave great advice
during each of the phases, and in particular on the negotiation.”
– Michael Morgan

 

Questions? Call Carlyn Lowery today.

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