Here are some market statistics for you for the year to date through the end of April in Anne Arundel County, compared to last year:
- Average Discount Off Original Price: 3.3% (was 3.9%)
- Average Days on the Market: 74 (down 5.13%)
- Number of Homes for Sale: 2,131 (down 10.6%)
- Total Sales: $985,064,163 (up 3.12%)
- Average Sold Price: $387,668 (up 5.96%)
- Real Buyers (Home Sold): 2,541 (down 2.68%)
(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2018 – Information deemed reliable, but is not guaranteed.)
It’s a seller’s market. Inventory is low, with just 2.9 months of supply on the market. And, as you may have heard, the Fed has been slowly raising interest rates
Mortgage Rates Back at 4-Year Highs Ahead of Inflation Data
The uncertainty is causing many savvy buyers to move more quickly than they might have otherwise. We can see that the news is getting out – per Mortgage News Daily,
Optimism Over Selling Sends Housing Index to Record High
Yet the inventory shortage is still in place.
This means that homeowners have the opportunity to take advantage of the situation. It’s the time to sell for top dollar and get a good buy on the next home. Now is the time to get started, in order to complete a move this year. Who do you know who might be interested in making a move?
If you know someone who is curious what their house would fetch in today’s market, and what else might be available, please introduce us. I’m happy to help them find that out!
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.
Call me today for your Annapolis real estate needs, or for an introduction to a great real estate agent anywhere.