Here are the latest numbers on home sales, for December 2011 vs December 2010 for Anne Arundel County:

Average Discount Off Original Price: 11%

Average Days on the Market: 141 (up 17.5%)

Number of Homes for Sale: 2,688 (down 14.64%)

Total Sales: $132,697,257 (up 1.67%)

Average Sold Price: $345,566 (down 1.51%)

(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2012 – Information deemed reliable, but is not guaranteed.)

While the sales numbers are not quite as rosy as November’s, the lower inventory provides some upward pressure on prices, along with the continued extremely low interest rates.

A statistic was just published about people in higher-end homes. As you may know, I have been saying for the past year that it is a good time to sell a modest-priced home and buy a higher-priced home. That’s because modest price ranges have gone down some, but the high end has dropped a lot more.

It was just published that the largest increase in mortgage defaults and foreclosures is in the Jumbo mortgages.

These distressed properties soften home prices even more because they increase the supply of houses on the market that are sold at a discount. That’s exciting for people who have wanted to buy up and haven’t been able to afford the house of their dreams.

Are you thinking of doing something with a higher-end home? Or do you know someone who is?

If your answer is yes, let’s talk.

Carlyn Lowery, Associate Broker, eXp Realty, Annapolis Real Estate, Anne Arundel County, Maryland, 443-569-3977 or 888-860-7369 x146

Local web sites in and around Annapolis, Maryland

To the surprise of many, and despite earthquakes, hurricanes and floods, Anne Arundel County homebuyers and sellers went about their business consistent with seasonal expectations in August.  Here are the latest numbers, comparing this August to last August:

Average Discount Off Original Price: 9.9%

Average Days on the Market: 115 (up 16.16%)

Number of Homes for Sale:  3,520 (down 7.32%)

Total Closed Sales: 445 (down 0.22%)

Average Sold Price: $349,735 (down 4.81%)

(Source: Metropolitan Regional Information Systems, Inc. – MLS Resale Data Copyright 2011 – Information deemed reliable, but is not guaranteed.)

In addition to higher days on market, and a lower average sold price, another pattern is emerging.  In August, 222 contingent contracts were made, versus only 86 last August, an increase of 158%.  While we are seeing more contracts made, as buyers and sellers work together, greater numbers of contracts are falling through due to the other properties not selling.

Here’s an opportunity.  Are you frustrated by the stock market, and thinking of moving some money? As you know, real estate prices are down, and sellers are eager for non-contingent cash buyers.  With the numbers of contracts falling through due to financing troubles and buyers who need to sell other homes, you can be in a very strong negotiating position if you arrange to buy with cash.

Would you like the numbers for a particular neighborhood, or price bracket? Let me know, and I will get them for you.

On another note, here’s a brand new listing this week.  It’s a nice property, and a reminder that you can ask whatever you want…

As you know, I’ll be happy to help you with this home, or any other real estate move, so don’t hesitate to get in touch any time!

Call me today for all your Annapolis real estate needs.

Carlyn Lowery, Associate Broker, eXp Realty, Annapolis Real Estate, Anne Arundel County, Maryland, 443-569-3977 or 888-860-7369 x146

Local web sites in and around Annapolis, Maryland