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Bowie Real Estate Market Shows Signs of Improvement

Margaret’s Monday Morning Market Report   
Bowie, MD (20715) – February 2011

The Real Estate Market in North Bowie (20715) showed several signs of improvement last month.

3-28-2011 10-43-39 PM

Home Sellers:  There were nearly three times as many new non-contingent contracts in February 2011 compared to February 2010.  The number of days on market and closed sales remained stable, and the percentage of average sold vs. average list price was up 1.3%

In fact, the number of new contracts was the highest of any February since 2007 and the percentage of average sold vs average list price was also the highest since 2007.

These positive signs suggest that the real estate market may have stabilized… can a pick-up be far behind?  I guess only time will tell.

Home Buyers:  Good news for sellers translates into bad news for home buyers, who may have waited too long to get off the fence.  I don’t recommend waiting any longer.

P.S.  Remember, qualified military personnel have only until the end of April to enter into a purchase contract to be eligible for the $8,000 tax credit.  Don’t let that get away!

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