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Margaret’s Monday Market Report: Anne Arundel County

Anne Arundel County MD Real Estate Market Report
December 2010

Anne Arundel County Market UpdateSerious home buyers and sellers find monthly updates regarding the local real estate market to be extremely helpful in their buying and selling decisions.  I suspect there are some casual readers of FocusOnCrofton.com who enjoy keeping up with county and local real estate statistics, as well. 

Beginning today, you can expect to find a market report posted each Monday.  There will be monthly updates for county-wide statistics, Crofton (21114 in depth), the greater Crofton area (including Davidsonville, Gambrills and Odenton), and Bowie (20715, 20716, and 20720).  If there happen to be more than 4 Mondays in a month… well, I’ll surprise you. 

To view past Market Reports, simply click on the “Market Updates” category in the left navigation bar of this website.  Now, here’s the most recent report on real estate in Anne Arundel County, MD:

2010 - December

2010 - December2

I think this next report is particularly interesting, because it clearly shows how many homes have remained unsold throughout the entire year.  Remember, all the sales statistics above are based only on the properties which actually sold. 

2010 - December Sold

Upward and downward trends can vary widely – even between adjacent zipcodes, and sometimes the local and hyper-local trends go in the completely opposite direction of county-wide trends.

By no means should anyone consider these numbers an indication that their home has lost (or gained) any value since this time last year, because that’s NOT what these statistics are saying.  This is merely a report of the median and average prices of the homes which did sell County-wide during December 2010 vs. 2009.

Why look at real estate statistics?

Most likely, the only statistics you care about are the price your home will sell for, how long it will take to sell, and what the percentage of sale price to list price you will get.  Right?

Real estate statistics won’t answer those questions, but they will help to inform a “best guess” of the likely selling price when considered with a Competitive Market Analysis for your property and a Property Condition Report.  It’s the only factor, of these three, that I can give you without actually seeing your home. 

The Bottom Line:

Sales were up county-wide in December 2010 from 2009.  Prices were down slightly, but only slightly.  Homes took longer to sell in December 2010 than they did in 2009.  Etc.

Now, when someone on TV spouts off some national statistics, you can talk back to the TV with some authority and say “In MY market, it’s just the opposite!”  And when your co-worker says “the real estate market sucks”, you can reply “Actually, sales were up over 2% in December over the same month last year.”

Market statistics may be only one factor in viewing the Anne Arundel County real estate market, but they ARE a factor that can’t be overlooked.

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Focus on Crofton is my way of attracting new home buyers to the greater Crofton area, while providing current real estate and community information to local residents.  For more information about real estate in Maryland, please Contact Margaret Woda at Long & Foster Real Estate, Inc. or simply click on a button below for information you can review online at your own pace:

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