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Are we past the bottom of the market are do we have a ways to go? Many indicators suggest that have in moved beyond the bottom of the market. Pending sales in Anne Arundel County are up month over month for the fifth month in a row. This is a very good sign. There is no guarantee that the trend will continue. As economic conditions improve buyers who were once sidelined may now be in the market looking for a new home and buyer!!! But sellers beware; August is just around the corner and is typically one of the slowest months in real estate. So it is entirely possible that the market could hit a sudden slump.
The S&P/Case-Shiller Home Price Index for the Washington DC marketplace declined 1.2% in March. The Baltimore Metro Home Price Index for the same period declined 2.0%. And the Anne Arundel County Index was up 1.4%. The Annapolis Index was also up 2.6% in March over February.
The total sales volume for Anne Arundel County was up 18.5% in May from April. The number of units sold was up 16.8% and the number of active listings was down 7.6%. The number of pending sales was up down 1.2%. The average sold price was down up 1.4% from $ $349,031 to $353,985. There were 410 units sold in May up from 351 sold in April.
The total sales volume for Annapolis was up 21.8% in May from April. The number of units sold was up 24.6% and the number of active listings was up 2.0%. The number of pending sales was down 5.1%. The average sold price was down 2.3% from $489,616 to $478,572. There 71 units sold in May up from 57 sold in April.
The quickening sales pace is likely to slow in June and July and summer begins. Sellers may see stability in prices but buyers will continue to benefit from lower prices, low interest rates and excess inventory.
In Conclusion
If you are thinking about making a change, let us help you take advantage of these trends. So, if you're buying or selling a home or know someone who is, for a confidential, private, professional real estate consultation without any obligation, contact Stephen Howell at 410-923-3217.
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If you're selling your Annapolis home, or thinking about it, chances are you're wondering about open houses...whether or not they work (something I'll talk about in an upcoming video)...and the dreaded Nosey Neighbors.
Not to worry: if they're nosey, they probably like to blab, too - and that's a good thing. If you're wondering why, just watch this video.
And by the way, if you are indeed thinking about selling your Annapolis area home - or would like to talk about the nosey neighbors...or perhaps have a question about buying a home in the Annapolis are - feel free to get in touch. You can call me, Ken Haedrich, direct at 410-507-7222 or email me at kenhaedrich@gmail.com.
Look forward to hearing from you.
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I am convinced one of the most difficult things we do when negotiating is to communicate effectively. More transactions are lost because we misunderstand, don't listen, assume we know, don't call back, don't clearly articulate, don't write it down or don't work to build consensus.
To communicate effectively we need to:
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So, you're in the market for an Annapolis home...this rain we've been getting is driving you batty...or you're just dying to talk with a Realtor about how the Annapolis real estate market is REALLY doing.
Whatever the case may be, we know you're anxious to get out and about this weekend - so why not attend one of the two open houses we're holding, one in Riva Trace and one in Eastport.
I've provided the details in the short video below. Hope to see you there.
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