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

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Anne Arundel Real Estate Market Statistics – October 2008

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The National Association of REALTORS reported in late September that recent sales for existing homes declined slightly, to an estimated annual volume of 4.91 million units for 2008. Recent tightening in mortgage lending has created challenges for some of today’s home buyers. According to Freddie Mac, the thirty year fixed rate mortgage hovered around 6.5 percent during the month of August, up slightly from the month before.

Officials are hoping that recent actions taken by the Federal government will create stability in the housing market. Lawrence Yun, chief economist for the National Association of REALTORS, says, “With higher loan limits and a beefing up of the FHA program, all the mechanisms have been falling into place to increase mortgage availability.”

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

05/08

252,600

309,100

190,700

219,000

326,700

06/08

257,900

298,700

201,900

230,500

328,500

07/08

253,300

307,100

196,900

221,100

322,400

08/08

245,400

300,600

196,400

220,400

294,500

Statistics from the National Association of REALTORS®

Anne Arundel County figures for September 2008 are shown below.

2008 2007 % Change
Total Sold Dollar Volume: $ 156,630,704 $ 199,884,468 – 21.64 %
Average Sold Price: $ 403,687 $ 441,246 – 8.51 %
Median Sold Price: $ 320,000 $ 345,000 – 7.25 %
Total Units Sold: 388 453 – 14.35 %
Average Days on Market: 136 114 19.30 %
Average List Price for Solds: $ 466,403 $ 480,279 – 2.89 %
Avg Sale Price as a
percentage of Avg List Price:
86.55 % 91.87 %
Total Number of NEW listings
taken for the month: 887
Total Number of Properties
marked Contract for the month: 326
Total Number of Properties
marked Contingent for the month: 106
Total Number of NEW pendings
(CONTRACTS + CONTINGENTS): 432

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.

443-569-3977 – Direct
888-860-7369 x146 – Main Office
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