Michelle Bowman-MD Realtor-Kent Island ,Keller Williams-Pasadena, MD/Ft Meade

Now that we have the first quarter statistics for the Odenton, MD market, let's look at some of the revealing and not so revealing numbers.

A total of 57 homes have sold in the Odenton area. It has taken anywhere between 4 - 5 months to sell. The average price is a number that can be greatly skewed by the sale of a $1 million dollar home, so we'll leave that statistic alone. The Average Sale Price as a percentage of Average List Price over the 3 month period ranges from 87% - 92%. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any). In other words, sellers should expect to get between 87% - 92% of their asking price. A most compelling statistic in the Odenton, MD market is the increase in number of active listings that have come on the market in the $300,000 - $349,999 range. At the beginning of the year, there were 170 active listings in Odenton. At the end of March, there were 193 active listings. That's an increase of 23 active listings for the year. Consequently, there were 28 active listings between $300,000 and $349,999. At the end of March, there were 38. That's an increase of 10 active listings in that price range. Doing the math, 44% of the increased active listings that have gone on the market in Odenton, MD are priced between $300,000 - $349,999. Equally as curious is the percentage of active listings that range between $200,000 and $399,999. At the end of March, there were 111 active listings in that price range from a total of 193 active listings. Another way to say this is that 58% of the active listings in Odenton fall between $200,000 - $399,999.

If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.

Market Statistics for Odenton, MD in March 2009:

Number of Homes Sold - 24

Average Sold Price - $284,011

Median Sold Price - $277,250

Average Days on the Market - 129

Average Sale Price as a percentage of Average List Price - 90.15%.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

I'm not a big fan of Average and Median Sold Price Numbers. Many variables can skew the data. A large sale ($1-$2 Million Dollars) can raise the average sold price but not be characteristic of what's going on throughout the entire market. In March, 24 homes sold. 22 of those homes sold between $200,000 to $399,999 range.

We know that the market has significantly slowed down but it bears repeating with the help of numbers. As you can see, it took an average of 129 days to sell these 24 homes in Odenton, MD. 11 homes sold in less than 120 days on the market and 13 sold with more than 120 days on the market. The main theme I want to say here is that homes are still selling! No matter how "bad" the media or others say the housing market is houses will sell. It may take close to 130 days in Odenton, MD to sell them, but houses are selling.

So what's the 90.15% mean? Well, it means that a house, in March 2009 in Odenton, MD, sold for 90.15% of the original asking price. In other words, if a house is listed for $100,000 it sold for $90,150 in March. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any).

All this adds up to the simple fact that we all know....it's a buyer's market. If you're a seller, you need to be prepared to understand that you may not receive the full price you're looking for and you may need to entice buyers with incentives. If you're a buyer, you're looking at great deals with great interest rates.

One last thing to mention - we get it. Michelle and I understand that there are sellers who have put a lot of blood, sweat, and tears into their home and we want to help them, realistically, get all they can for the price of their home. If you're a buyer, we understand that you're sitting and waiting for the bottom of the market to hit before you buy. Question is, when will you know when the market bottoms out? Answer is, when the market makes a comeback and it's too late for great deals!

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.

Now that we have the first quarter statistics for the Severna Park, MD market, let's look at some of the revealing and not so revealing numbers.

A total of 29 homes have sold in the Severna Park area. It has taken anywhere between 2 - 7 months to sell. The average price is a number that can be greatly skewed by the sale of a $1 million dollar home, so we'll leave that statistic alone. The Average Sale Price as a percentage of Average List Price over the 3 month period ranges from 80% - 95%. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any). In other words, sellers should expect to get between 80% - 95% of their asking price. A most compelling statistic in the Severna Park, MD market is the increase in number of active listings that have come on the market in the $500,000 - $599,999 range. At the beginning of the year, there were 201 active listings in Severna Park. At the end of March, there were 217 active listings. That's an increase of 16 active listings for the year. Consequently, there were 35 active listings between $500,000 and $599,999. At the end of March, there were 42. That's an increase of 7 active listings in that price range. Doing the math, 44% of the increased active listings that have gone on the market in Severna Park, MD are priced between $500,000 - $599,999. Equally as curious is the percentage of active listings that range between $350,000 and $599,999. At the end of March, there were 109 active listings in that price range from a total of 217 active listings. Another way to say this is that 50% of the active listings in Severna Park fall between $350,000 - $599,999.

If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.

Market Statistics for Severna Park, MD in March 2009:

Number of Homes Sold - 8

Average Sold Price - $464,328

Median Sold Price - $456,750

Average Days on the Market - 64

Average Sale Price as a percentage of Average List Price - 95.28%.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

I'm not a big fan of Average and Median Sold Price Numbers. Many variables can skew the data. A large sale ($1-$2 Million Dollars) can raise the average sold price but not be characteristic of what's going on throughout the entire market. In March, 8 homes sold. 4 of those homes sold between $300,000 to $399,999 range.

We know that the market has significantly slowed down but it bears repeating with the help of numbers. As you can see, it took an average of 64 days to sell these 8 homes in Severna Park, MD. 7 homes sold in less than 120 days on the market and 1 sold with more than 120 days on the market. The main theme I want to say here is that homes are still selling! No matter how "bad" the media or others say the housing market is houses will sell. It may take close to 60 days in Severna Park, MD to sell them, but houses are selling.

So what's the 95.28% mean? Well, it means that a house, in March 2009 in Severna Park, MD, sold for 95.28% of the original asking price. In other words, if a house is listed for $100,000 it sold for $95,280 in March. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any).

All this adds up to the simple fact that we all know....it's a buyer's market. If you're a seller, you need to be prepared to understand that you may not receive the full price you're looking for and you may need to entice buyers with incentives. If you're a buyer, you're looking at great deals with great interest rates.

One last thing to mention - we get it. Michelle and I understand that there are sellers who have put a lot of blood, sweat, and tears into their home and we want to help them, realistically, get all they can for the price of their home. If you're a buyer, we understand that you're sitting and waiting for the bottom of the market to hit before you buy. Question is, when will you know when the market bottoms out? Answer is, when the market makes a comeback and it's too late for great deals!

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.

Now that we have the first quarter statistics for the Pasadena, MD market, let's look at some of the revealing and not so revealing numbers.

A total of 101 homes have sold in the Pasadena area. It has taken anywhere between 3 - 5 months to sell. The average price is a number that can be greatly skewed by the sale of a $1 million dollar home, so we'll leave that statistic alone. The Average Sale Price as a percentage of Average List Price over the 3 month period ranges from 80% - 92%. It's called a contract sales price. It does NOT take into account factors such as closing costs or closing help (if any). In other words, sellers should expect to get between 80% - 92% of their asking price. A most compelling statistic in the Pasadena, MD market is the increase in number of active listings that have come on the market in the $600,000 - $699,999 range. At the beginning of the year, there were 445 active listings in Pasadena. At the end of March, there were 465 active listings. That's an increase of 20 active listings for the year. Consequently, there were 22 active listings between $600,000 and $699,999. At the end of March, there were 34. That's an increase of 12 active listings in that price range. Doing the math, 60% of the increased active listings that have gone on the market in Pasadena, MD are priced between $600,000 - $699,999. Equally as curious is the percentage of active listings that range between $200,000 and $399,999. At the end of March, there were 253 active listings in that price range from a total of 465 active listings. Another way to say this is that 54% of the active listings in Pasadena fall between $200,000 - $399,999.

If you're a first time home buyer you should take a serious look at the numbers here. The interest rates for loans are outstanding, the first time buyers credit is out there, and there has been an influx of active listings in a great price range.

Source: Metropolitan Regional Information Systems, Inc (MRIS)

Never forget that freedom is not free. There are many men and women who are sacrificing for us at this very moment. Some have made the ultimate sacrifice, while others are recovering from injuries sustained fighting overseas. Here's one way you can help these heroes: http://www.anysoldier.com. Thank you to all the men and women at Fort Meade, The Naval Academy, Andrews Air Force Base, and everywhere around the globe for your patriotism and sacrifice.

Rich is a licensed assistant to Michelle Bowman of Keller Williams Select Realtors in Severna Park, Maryland. To learn more about Michelle Bowman, including contact information, please visit her website at www.michellebowman.com.