The real estate statistics are out for August 2009, and Anne Arundel County MD continues to show signs of positive home sales trends.
August 2009 posted 464 homes/townhouses/condos sold. This figure is 3.3% higher than the 449 sold in August of 2008.
While the median sales price did go down by -8.4%, compared to August of 2008, this appears to be a reflection of the number of first time home buyers in the market right now. First time home buyers are generally picking up homes under $300,000, and there are a lot of them trying to take advantage of the $8000 tax credit. This first time home buyer tax credit, if you qualify, will only be given on a home settled by November 30, 2009.
Single family home inventory is down -19.1% compared to August 2008. Townhouse/condo inventory is down -13.5% in the same time period. More homes are selling, and while there is still a large selection, those sold now aren't being replaced by new inventory at the same rate as the last couple of years.
One of the indicators of future performance in the housing industry is pending sales. This category increased by +44.5% when compared to August of 2008. The next few months are already on the upswing with plenty of time to add new sales.
Anecdotally, I have seen, and participated in, several multiple contract situations. It doesn't happen on every offer but it definitely is happening more frequently than in the past few years.
Is the housing slump completely turned around in Anne Arundel County MD. Probably not, but the upward indicators of the past few months do seem to be telling us that the worst may be over. While it is still a strong buyers market, the stats are showing us that that may be changing soon.
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
©2009 - RichSellsHomes, All Rights Reserved
Rich Iarossi is a full time licensed REALTOR®, working in Crofton, MD. My coverage areas are: Anne Arundel, Prince George’s, Howard, Calvert, Queen Anne, and Baltimore City and County. I specialize in residential real estate, working with both buyers and sellers. Use the registration free search on my website at www.RichSellsHomes.com. If you’re not already working with a REALTOR®...I can help. Call me at 443-995-9595 (Cell) or 410-451-6255 (Office).
SKYPE ME: RichSellsHomes
Richard, very similar statistics for us. I'm a little surprised that many diverse areas of the country are reporting similar markets.
GOOD MORNING RICH! Glad to read that multiple offer situations happen from time to time. I still am surprised when it happens - but it's encouraging at the same time! -- Gabrielle