In Anne Arundel County, the real estate statistics through the end of June 2016 show that this year’s sales have been stronger than last year’s, with 18.98% more homes sold (a total of 4,420). And, they sold 8.89% faster, with an average of 82 days on market.
Across Anne Arundel County, sales of waterfront homes were up 13.41% compared to the previous year, with 186 homes sold in 2016 compared to 164 in 2015. And, the average net sold price was up 4.08% (to $800,023). In the higher end smaller market of Annapolis, the number of waterfront homes sold year to date in 2016 (49) was below 2015 (53). And the average net sold price was up 5.04% (to $1,079,714 from $1,027,952).
- Average Discount Off Original Price: 4.6% (was 5.5%)
- Average Days on the Market: 82 (down 8.89%)
- Number of Homes for Sale: 2,846 (down 12.67%)
- Total Sales: $1,595,444,519 (up 20.11%)
- Average Sold Price: $360,960 (up 0.96%)
- Real Buyers (Home Sold): 4,420 (up 18.98%)
(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2016 – Information deemed reliable, but is not guaranteed.)
Overall, the sellers market has further strengthened since last year, with approximately 4 months of inventory, and more homes having sold more quickly.
Of course, conditions differ within sub-markets; each price range and neighborhood differs. For example, in Davidsonville, another high-end area, the market has been quite different. While the number of houses sold year to date in 2016 was up 14.63% compared to the previous year, the average sold price was down 14.9%.
Now, more than ever, it’s important for home sellers to pay attention the market activity, and employ smart strategy and top talent, in order to make the best sale.
P.S. Considering a move? Please call for a confidential chat. Your personal needs, wants, and finances are my priority and my passion and my specialties run from waterfront luxury estates to distressed properties.
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