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

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Annapolis Real Estate Market Statistics November 2009

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Existing Home Sales are at their highest levels in over 2 years, according to an October report published by the National Association of REALTORS (NAR). Fueled by increased activity among first time home buyers, the existing housing market has shown gains in five of the last six months. Based on the recent 9.4 percent increase from August to September, NAR is predicting annual sales volume of 5.57 million units for 2009, up from the earlier prediction of 5.10 million units.

Existing Home Sales By Region

Buyers are taking advantage of low interest rates and a first time buyers tax credit available through the end of November. “Much of the momentum is from people responding to the first-time buyer tax credit, which is freeing many sellers to make a trade and buy another home,” said Lawrence Yun, NAR chief economist.

Total housing inventory is trending down across the country, reaching its lowest level in two and a half years. Inventory fell to 3.6 million homes available for sale at the end of September. This represents a 7.8 month supply at our current sales pace. “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year,” Yun said.

Anne Arundel County figures for October 2009 are shown below.

2009

2008

% Change

Total Sold Dollar Volume:

$ 175,680,472 $ 132,330,760 32.76 %
Average Sold Price: $ 349,961 $ 380,261 – 7.97 %

Median Sold Price:

$ 285,000 $ 320,000 – 10.94 %

Total Units Sold:

502 348 44.25 %


Average Days on Market:

130 152 – 14.47 %

Average List Price for Solds:

$ 388,439 $ 426,461 – 8.92 %


Avg Sale Price as a

percentage of Avg List Price:

90.09 % 89.17 %
Total Number of NEW listings
taken for the month: 776
Total Number of Properties

marked Contract for the month:

367
Total Number of Properties
marked Contingent for the month: 211
Total
Number of NEW pendings
(CONTRACTS + CONTINGENTS): 578

Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data

Copyright 2009
– Information deemed reliable, but is not guaranteed.

P.S. Call me today for all your Annapolis real estate needs.

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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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