Anne Arundel County Real Estate Market Update

Are you curious how the Real Estate market is doing in Anne Arundel County? The numbers for Real Estate sales in July have just been published.  It was an amazing month for local real estate, to say the least!  Please take a look at the information below and see what made July one of the best months in real estate in Anne Arundel county this year!

Prices are up!

The average sold price of a home in Anne Arundel County has been on a steady incline all year.  This past July was no different.  The average sold price in July 2013 increased by 3.34% when compared to July 2012.  This is great news for people who may be thinking of selling their home in Anne Arundel County this year.  Prices are up, sellers are happy.  Who doesn’t like a little extra cash in their pocket?

Homes are selling FAST!

The time it takes to sell a home in Anne Arundel County is currently about 76 days, on average.  This is really great news especially considering that in July 2012 the average days on the market was 91, a 16% difference.  Many homeowners are finding that their homes are selling quicker than they had imagined.  While the madness of the fast paced Spring market has died down, there are still many buyers out looking at homes and waiting to snag the next hot listing that comes up.

Great Rates!

One of the main reasons that the market is continuing to prosper here in Anne Arundel County is the offering of low interest rates to buyers.  The current interest rate on a 30 Year fixed FHA mortgage is about 4.25-4.5%.  Now, not too long ago back in the first quarter of this year the rates were even lower than they are now, generally around 3%-3.5%.  Those were INCREDIBLE interest rates, no doubt about it.  But a 4.25%-4.5% 30 YEAR FIXED RATE is INCREDIBLE as well!  Just as those rates in the 3’s paid us a quick visit and then headed out of town, so will the current rates in the 4’s.  Nothing stays the same for too long in this business.  If you are thinking about purchasing a home, this could be the best time to do it, before prices increase and rates increase.

I love delivering good news about real estate! If you know anyone who lives in Anne Arundel County or if you know someone who wants to, please share this news with them. 

As always, if you have any questions about the market where you live, just ask me!  I am always happy to help! 

Jennifer Novak

“Turning Your Dreams into an Address!”

Call Me- 301-370-9789-Direct

Email Me- Novakdreamhomes@gmail.com

www.JenniferNovakHomes.com Property Search

410-224-0632-Office

 

Market Update: We had a Fabulous June in Davidsonville!

I was just looking at the real estate statistics in Davidsonville for June and the numbers were so incredible I had to share. I love to be the spreader of good news!

There are currently 74 homes listed for sale in Davidsonville ranging from $319,900 to $1,850,000.   31 of these 74 homes were listed June 1st or later.  It has been a very busy Summer for real estate here in Davidsonville so far!

Here are some of the numbers showing what a great month June was:

Total Number of homes Sold:  13  This is up from 8 total homes sold in June of 2012.

Average Days on the Market in June 2013: 69  In June of 2012 the average days on the market was 132.  That’s a positive difference of over 47%.  It is taking a lot less time for sellers to get their homes sold.  Who doesn’t love that?

Average Sold Price in June 2013: $733,885   The average sold price is up over 9% from the same time last year.   If you are selling your house this year, good for you.  You’ll likely get a little extra cash in your pocket, you smart cookie.

Even with 74 homes on the market we are still experiencing a bit of an inventory shortage.  Buyers are out there looking and hoping to snag the perfect house when it comes on the market.   If you are thinking of selling, now is a really great time to do it.

If you know someone who is selling or thinking of selling, please share this good news with them!

Here’s to hoping for a fabulous July!