January 9th, 2012 Categories: Market Updates
3–Year History of Bowie MD Real Estate Sales
As we begin the new year, it’s always good to reflect for a moment on the year behind us. I like to put that reflection in perspective by comparing it with two previous years:
North Bowie (20715) had 290 closings, the highest number in three years, with 216 in 2010 and 250 in 2009. Hopefully this trend will continue so the inventory of 79 homes currently for sale will drop consistently each month of 2012.
South Bowie (20716) had 201 closings, the lowest number in three years, with 241 in 2010 and 213 in 2009. There are 77 homes for sale in this area, as of 1/5/2012.
West Bowie (20720) enjoyed the highest number of sales in three years, but just barely, with 287 in 2011, 286 in 2010 and 274 in 2009. 101 homes are on the market now in this zipcode.
Southwest Bowie (20721) held its own in 2011, with 268 closings compared to 271 in 2010 and 254 in 2009. There are 86 homes currently for sale in this area of Bowie.
What does all this mean to you?
Home Buyers: With so many homes on the market, you should be able to find a seller who is willing to compromise on price or pay some of your closing costs. With low interest rates still available, condtions are perfect for you to buy your first home or move up to a bigger/better Bowie home.
Home Sellers: It’s still competitive for you, so you will have to entice buyers to your home with special incentives like closing help. Once you get them in the door, your home needs to be in top showing condition. And, of course, nothing sells a home like pricing it right for the market. The bubble years are gone, and there’s no point in waiting for 2005 home prices to return. It’s not likely to happen any time soon.