March 17th, 2014 Categories: Market Updates
Davidsonville Real Estate Market Update – February 2014
Based on sales figures from MRIS and RBIntel, released March 10, 2014, for Davidsonville, Maryland (21035)
There are more than 2500 residential dwellings in Davidsonville, but there is very little turnover. Only one hundred eighty five homes sold in the 21035 zip code during 2013, the highest number of annual sales since I started tracking real estate statistics in my market during 2006. That’s fewer than 1% of the existing homes.
With so few home sales, it’s not really possible to draw any meaningful conclusions. One very high or very low-end property can skew the numbers significantly.
That’s why I would have to look beyond this data to consider similar homes in other zip codes, if you were to contact me today about selling your Davidsonville home. There really is no substitute for “experience” in situations like this!
Here is the information released by MRIS and RBIntel last week for Davidsonville, Maryland:
What you don’t see here:
- More homes sold last month (February 2014) than any February since 2008.
- Days on market are lower than any February since 2008, other than last year, when only one home sold. In 2012, no homes sold in February.
- The “Sold vs List Price” ratio is lower than last year, but higher than every other February since 2007.
- Median and average sold prices were higher in 2013, but lower in every other February since 2008.
The time is always right for buying in Davidsonville because there are more sellers than buyers, and that tends to put buyers in the driver’s seat at the negotiating table. That being said, homes are selling at about 95% of full price, so don’t expect to get a “steal” in Davidsonville.
There’s some pent-up demand out there, so take advantage of this and put your home on the market sooner rather than later! You’ll have a lot of competition, so work with an agent who has a relationship with a good stager. It could mean the difference between selling or multiple price reductions… or worse, no sale.