Gwynn Oak, Baltimore County, Maryland Market Report - June 20, 2011

Gwynn Oak, Baltimore County, Maryland Market Report - June 20, 2011

Active Listings in the 21207 zip code: 95

Active Short Sales Listings In the 21207 zip code: 43

Active REO (Bank Owned Property) Listings In the 21207 zip code: 18

The Minimum Price in the 21207 zip code: $39,500

The Maximum Price in the 21207 zip code: $340,000

The Average Price in the 21207 zip code: $164,131

Resale Comments: My independent MLS research shows that 39% of the current active residential inventory in the 21207 zip code is distressed (short sale or bank owned). There are currently 157 active listings on the market. Most of these properties are overpriced or are in less than ideal condition that do not attract buyers and just sit on the market. The average day's on the market for these active properties is 120. There are currently 58 properties under-contract. These buyers have found and are expecting and getting a great value-a good property at a good price and with all the competition for their attention, they have a lot of choices. There were 40 properties that sold in the last 60-days. The average day's on the market was 111. Seller's got 83% of list price. Buyers have a sense of what's fair market value and what's not and they just won't show up if you are not in the ballpark. There is currently 7.8 months of inventory on the market in the 21207 zip code. It's very important that sellers price the property correctly and competitively. Buyers are looking for value pricing and if sellers don't meet these expectations, they're property will be overpriced and overlooked.

If you are thinking of buying or selling an home in Maryland give me a call today and we'll talk about the market conditions and what your home could possibly be worth in today's market place if you are thinking of selling. You can save thousands by listing your home with Advance Realty Professionals If you are considering buying a home, there is no better time than now to buy. The tax savings and wealth building a lone is worth the plunge into todays market.

In keeping with saluting our heroes, during 2011 I am waving administrative fees active duty military, retired military and the families of fallen military, as well as policemen, firemen and emt's. If you enter into a contract by the New Year's eve I will waive the admin fee at settlement. This is a $395 savings. If you are thinking about buying or selling a home give me a call and receive full service real estate assistance from an experienced agent. Our office is open 7 days a week and we can be reached at 410-761-1550/410-744-2100 or I can be reached directly at 410-292-0100.