Bowie MD Real Estate - Status for Week Ending 03/27/10
The current inventory for Bowie, MD homes for sale and rentals is 512. This amount of inventory is significanly higher that most surrounding communities, and is consistent with the current Bowie real estate market.
As you can see from the chart below, thirty eight new listings came on the market in Bowie MD last week. These were a good combination of offerings for anyone from first time home buyers to move up purchasers. Fourteen of the new listings were priced below $250,000, a nice price range for first time home buyers for Bowie, MD. The most expensive new listing was a 4 br, 3 bath house in the Woodmore section listed for $667,000.
Four new rental listings came on the market this past week. The current rental market is very robust and competitive in Bowie, MD.
Forty eight properties changed or moved into a form of Contract status. Thirty of these properties moved into full contract status. This is a future indicator of settlements to come in the near future.
Twenty two new home buyers completed the purchase process and went to settlement last week in Bowie, MD.
If you're looking to purchase or sell a home in Bowie, MD or the surrounding area, I can help.
New ACTIVE Listings
|
38
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New RENTAL Listings
|
4
|
Listings marked CNTG/KO
|
5
|
Listings marked CNTG/NO KO
|
13
|
Rental Application Registered
|
5
|
Listings marked CONTRACT
|
30
|
Listings marked SOLD
|
22
|
Rentals marked RENTED
|
7
|
Listings TEMP OFF MARKET
|
9
|
Listings marked EXPIRED
|
2
|
Listings marked WITHDRAWN
|
14
|
The local Multiple Listing Service (MRIS) uses the following status types to indicate a property's availability:
- ACTIVE: Indicates that the property is available with no contingencies, contract or application registered against it.
- CNTG/KO: (Contingent with Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency that includes a kick out clause.
- CNTG/NO KO: (Contingent with No Kick Out) - Indicates that the property is available but has a contract with at least one pending contingency and the pending contingencies do not contain kick out clauses.
- APP REG: (Application Registered) - Indicates that the property is available but a rental application has been registered on it.
- CONTRACT: - Indicates that the property has a ratified contract with no pending contingencies. If the only remaining contingency is financing the status should be contract.
- SOLD: - Indicates that the property is sold and settled.
- RENTED: - Indicates that the property has been rented.
- TEMPORARY OFF: - Indicates that the property is not available for showing. This status is for short term use and must have seller approval.
- EXPIRED: - Indicates that the listing agreement has expired.
- WITHDRAWN: - Indicates that the listing agreement has been terminated prior to its original date.
Richard Iarossi, REALTOR®
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
Web: http://www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
Annapolis MD Real Estate Specialist
Bowie MD Real Estate Specialist
Crofton MD Real Estate Specialist
Bowie, MD has been one of those areas in Suburban Maryland that has been hardest hit by foreclosures. Homes that complete the foreclosures process become bank owned properties and are listed with a local real estate brokerage for sale. The purchase of a bank owned property isn't much different than a normal resale. 
