Annapolis Real Estate Market Statistics September 2009

For the first time in five years, existing home sales have increased for four months in a row, according to an August report by the The National Association of Realtors® (NAR). Existing home sales – including single-family, townhomes, condominiums, and co-ops – increased 7.2 percent in July, which is the largest monthly sales gain recorded since 1999. Analysts are projecting an increase in 2009 of existing home sales to a seasonally adjusted annual rate of 5.24 million units, which is 5 percent above the 4.99 million-unit pace set in July 2008.

“The housing market has decisively turned for the better,” said Lawrence Yun, chief NAR economist. “A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales.”

Anne Arundel County figures for August 2009 are shown below.

2009 2008 % Change Total Sold Dollar Volume: $ 170,183,103 $ 162,938,402 4.45 % Average Sold Price: $ 360,557 $ 376,301 – 4.18 % Median Sold Price: $ 300,000 $ 325,000 – 7.69 % Total Units Sold: 472 433 9.01 % Average Days on Market: 132 121 9.09 % Average List Price for Solds: $ 406,090 $ 415,341 – 2.23 % Avg Sale Price as a percentage of Avg List Price: 88.79 % 90.60 %

Total Number of NEW listings taken for the month: 816 Total Number of Properties marked Contract for the month: 375 Total Number of Properties marked Contingent for the month: 204 Total Number of NEW pendings (CONTRACTS + CONTINGENTS): 579

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