Real Estate Market Study February 2008 - Odenton, MD (21113)

Are you an Odenton home seller or buyer?  The answer to that question will determine your perspective on today's real estate market in Odenton!  Here's what buyers are saying (or should be):

A few years ago, the press couldn't say enough about what a great real estate market it was.  That was true for sellers, but  NOT for home buyers.  Now the shoe is on the other foot, as the saying goes.  The press is moaning about what a terrible market it is (and most home sellers would agree), but IT'S A GREAT MARKET FOR HOME BUYERS!

DOWN:

The total number of homes sold is down 8.11% from February 2007 to this year, and the total sold dollar volume is down 11.95%- to $11,627,200.

That reduced dollar volume comes from more than a reduction in units sold, however; it's also the result of a small drop in prices:  4.18% in the average sold price and just 1.95% in the median sold price.

While we're on the topic of money, the average list price for sold properties also dropped - but less than 1% from 2007 to 2008 - and it's higher than both 2005 and 2006 (amount not shown here).

 

UP:

Meanwhile, the average # of days that sold homes have remained on the market has gone up almost 40% since February 2007.

Whether you're a home buyer or seller, I just have one thing to say:

You have the right to be represented by a REALTOR.  Anything you say can and will be used against you in negotiations.

Regardless of anything else you read about working with a REALTOR or doing it on your own, THIS is probably the most important thing to consider.  If in doubt, ask me to tell you some of my real estate stories!  It's my job to make buying or selling a home LOOK and FEEL easy to my clients - but make no mistake.  There is no substitute for experience, when it comes to real estate.

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Find a Home and learn about Real Estate Market Conditions in Odenton and Anne Arundel County, Maryland.  Check out Today's Rates, use the free Mortgage Calculator, and watch a brief video about the Power of RE/MAX.  These consumer-friendly real estate tools are provided by Margaret Woda for you to use at your own pace. 

When you're ready to go from "just browsing" to "let's get serious", contact Margaret online or call her at RE/MAX Vision in Crofton Maryland. 410-451-1900