February 24th, 2014 Categories: Market Updates
This report is based on closed sales in the 20715 zip code during January 21114.
Here’s a look at some key real estate statistics in the 20715 Bowie zip code during January 2014, along with comparisons to the previous year (YoY) and month (MoM). These numbers do not necessarily reflect the statistics of other zip codes in Bowie.
Sales Volume: January sales in this area of Bowie were higher than any January since 2008, before the crash of the real estate bubble, and higher than the two previous months. This is in stark contract to nearby Crofton, where sales experienced the typical seasonal low during January.
Sold vs. List Price: The ratio of sold price to list price was down, however, from last year and last month. Fortunately, it’s still higher than four of the past six years.
Sold Price: The median sold price during January is higher than any January since 2010, but still more than $100,000 below the median price during the “bubble” years of 2006-2009. Anyone who bought during that timeframe will likely be facing a short sale, unless they’ve already negotiated something with their lender.
Keep in mind that this does NOT mean that YOUR home value has risen or fallen; this statistic is based on the prices of homes that sold.
If you compare Bowie real estate statistics for last months with those of Crofton (posted last week), it’s hard to fathom how different they are for two neighboring zip codes. The same can be said for other zip codes in the city of Bowie, which don’t necessarily mirror 20715. For information about those areas or anywhere in the greater Crofton area, please contact me at (410) 451-6245.
This is the time to sell your home, while inventory is low and demand is high, so don’t procrastinate on getting listed.