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Bowie Home Sales Up in March 2011

Margaret’s Monday Morning Market Update
BOWIE –  20715, 20716, 20720

Looking across three Bowie zipcodes, we see that Bowie home sales were up in March compared to the previous month, February 2011. 

Bowie Units

The picture was not entirely rosy, however, when we compare last month with last year:  In North Bowie, the number of sold homes remained flat from 2010 to 2011 while they plunged almost 30% south of Rt. 50; Residential real estate in the 20720 zipcode experienced an increase in units sold, from 18 last year to 23 in March 2011.  Looking at this chart from a different perspective, we see the number of units sold isn’t very different for the 20715 and 20716 zipcodes from the starting point in October, while the 20715 market has improved overall since October 2010.

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“Much better” also describes the Median Sold Price for the 20720 zipcode of Bowie –  UP from the starting point of this chart (October 2010), up from last month (February 2011), and up 25% from last year (March 2010).  The Median Sold Price is down, however, for the other two zipcodes –  no matter how you look at it.  DOWN from the starting point of this chart, from last month, and from last year. 

Bowie MSP

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Days on Market -how long from listing date to sold – is another indicator of how the real estate market is doing.  While the number was hovering around 100 days for these three Bowie zipcodes last month (March 2011), this chart shows an increase from the starting point (October 2010) for 20715 and 20716, and a significant increase for 20720.  A look at the statistics for March 2010 Indicates that the Days on Market were up only slightly in 20715, up 11% in 20716, and up 37% for 20716.

Bowie DOM

So What?

As a Bowie homeowner, what does all this mean for you?  That’s a fair question, and sometimes I ask the very same question after I pull all these real estate statistics together.  I don’t have the answer… I can only offer one person’s perspective: 

If you’re interested in market statistics for the 20721 zipcode in Bowie, Anne Arundel County, or anywhere along the Rt. 50 corridor between Bowie and the D.C. line and north to the Montgomery County line, please contact me.  I’ll be happy to prepare a market study for your zipcode.

Margaret Woda

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