The official housing statistics for the Metropolitan Regional Information System, MRIS, get released on the 10th day of each month. Realtors flock to the site to get information to convey to their clients in their market areas.
Numerous blogs and newspaper articles are generated. All trying to convey information and look for trends.
The raw data doesn't lie. The last few years have been difficult trying to put any kind of positive spin on declining sales and housing prices. That may very well be be stabilizing or even coming to an end.
The recent reports of home sales in Anne Arundel County, MD, show an increase in units sold over the same period last year for three consecutive months running. Time for celebration? It's hard to tell at this point, but it sure does help to lift the gloom and doom that's been so prevalent in the local housing market. Any time the statistics show a positive trend for three months running, it's good news.
What's fueling the increase? It sure looks like 1st time home buyers. Half of the 491 homes that sold last month were below $300,000. In Anne Arundel County, MD, that price point is attributed mostly to 1st time home buyers.
It's pretty clear that the government's 1st time home buyer tax credit of $8,000 is helping buyers get off the fence. Without changes, this program expires on November 30, 2009. If 1st time home buyers don't settle before than, the $8,000 tax credit may not be available.
The inventory of over 4,000 homes in the county is also helping to fuel the market. Prices are lower than they have been in years, and interest rates continue to be very attractive. Both of those could change at any time.
County level statistics may not accurately reflect what's going on in the community where you wish to buy or sell. Individual zip code statistics are available to show trends at an even more local level.
Make no mistake. These statistics are good news and should be a call to action for buyers. If you've been waiting for the bottom of the market, analyze the statistics closely and see whether we're there now.
To preview all active listings in Anne Arundel County and the rest of Maryland, just follow this link.
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
©iStock Photo - Licensed for Use
The Odenton, MD real estate market wasn't as robust as some of the surrounding areas last month. In July 2008, 35 homes sold in Odenton, while July 2009 showed 26 homes going to settlement. A reduction of -25%.
These results are quite similar to the July 2008/July 2007 reduction.
Days on the market for Odenton, MD homes for sale averaged 87 last month, a slight reduction from the 89 Days on the Market of July 2008.
Medium and Average sale prices continue to slide reflecting homes being sold in the lower price ranges. Interestingly, no homes sold in Odenton, MD last month over $500,000, compared to 4 which sold in July of last year over the half a million dollar mark.
The most robust Odenton, MD home sale price range continues to be below $350,000. This price range also reflects first time home buyer activity.
Sales of Odenton, MD homes show an Average Sale Price as a % of Average List Price of 95.04% last month. Right priced homes are selling near list price and buyers are seeing that value.
As a possible indicator of future settlements, 35 homes went under contract in Odenton, MD last month.
There is still time though to get a great deal on an Odenton, MD home.
If you're coming into the area because of a relocation to Ft. Meade, Odenton is a great place to purchase. Odenton, MD is the home of a large portion of Ft. Meade. Odenton is also ideally situated between the Baltimore and Washington, DC employment markets.
To preview all active listings in Maryland just follow this link.
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
Crofton MD had a pretty good real estate month in July, 2009. The market was pretty much unchanged from the same month last year. 34 houses went to settlement in 2008, while 33 sold in 2009.
Keep in mind that July 2008/2007 sales showed a significant reduction of almost 40%. Looking at the data it would certainly seem to indicate that the real estate market in Crofton, MD has stabilized quite a bit, and seems to be on the rise.
Along with the 33 houses that sold last month, 32 also went under contract. This bodes well for future closings.
There also seems to be more of a sense of urgency on the part of buyers because of a dramatic reduction in the number of Days on the Market, 45.9%. The Days on the Market in Crofton, MD went from 122 to 66 when comparing July 2008 to July 2009. This is a huge reduction and has to be another indicator that the market is stabilizing.
Once again, sales were most robust in the price range below $500K.
According to the statistics provided by the Metropolitan Regional Information Systems, Inc., our local MLS, buyers were more willing to pay closer to the actual list price. The Average Sale Price as a % of Average List Price was 94.86% compared to 91.95% in July of 2008.
If you've been fence sitting, waiting for the market to drop further in Crofton, MD, you might just have missed your opportunity.
There is still time though to get a great deal on a Crofton, MD home.
If you're coming into the area because of a relocation to Ft. Meade, Crofton is a great place to purchase. Crofton, MD is about 10 -15 minutes from Ft. Meade. Crofton is ideally situated between the Baltimore and Washington, DC employment markets.
To preview all active listings in Maryland just follow this link.
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
Riding my bike on Crofton Parkway this morning I took a few shots of recycle bins. Monday in my section is trash pick up day and we also get a chance to recycle as well.
I'm guessing here but I would have to estimate that about 90% of the Crofton, MD homes had a recycle bin out front, waiting for pickup. Why such a high percentage? Because Anne Arundel County makes recycling so easy.
The big yellow bins are free and can be picked up at the local landfill in Gambrills. Separating recyclables...couldn't be easier. We separate only yard waste which is put in plastic bags with an X on it. Paper, glass, plastic, cardboard and metal all go into the big yellow bin. How easy is that? You don't even have to wash anything out either.
If you're not recycling in Crofton, MD, you almost have to be going out of your way not to.
Is recycling a big thing in the overall scheme of things? Probably not, but the more people who do it, the more natural resources we can preserve.
Crofton, MD...way to go on your recycling efforts.
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
New Listing: 1721 Dana Street, Crofton, MD 21114
For information about this listing or to schedule a showing contact Rich at 443-995-9595.
To preview all active listings in Maryland just follow this link.
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
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Serving discriminating buyers and sellers in the Anne Arundel, Prince Georges, Howard, Calvert and Queen Anne Counties in Maryland. Call Rich at 443-995-9595 for the real estate service you deserve
To search for all active listings in Maryland, Virginia and the District of Columbia use http://www.RichSellsHomes.com
Welcome to Crofton, MD. As a sales associate working for Long and Foster Real Estate, Inc. I feel priviledged to work with buyers and sellers all throughout Anne Arundel and surrounding counties.
Crofton is a destination place for buyers moving into the area. We're ideally situated about 30 minutes out of Washington, DC to the south and 30 minutes out of Baltimore to the north. Travel east about 10 minutes and you're in the Capital of Maryland, Annapolis. Each of these cities is a thriving employment area, making Crofton an ideal location.
My family and I moved to Crofton in 1991 and used the same criteria that buyers today use when looking for a home. Great location, good schools and safety. After looking at several communities in the area Crofton was our number one pick and we've never looked back. It has been a wonderful small city to raise a family.
The kids are grown and out now and living in nearby Baltimore County. My wife and I are still in Crofton and plan on remaining here for quite some time.
You're in luck...my two Schnoodles like everybody.
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Rich Iarossi
Long and Foster® Real Estate, Inc.
Crofton, MD 21114
410-451-6255 Office
443-995-9595 Cell
www.RichSellsHomes.com
eMail: Rich@RichSellsHomes.com
My main area of expertise is working with renters, buyers and sellers in the residential real estate market.
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“Rich, my salesperson was excellent. Attention to my wants and method of house hunting, attention to details above and beyond expectations.”
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“We loved Rich and would recommend him to any and everyone. Rich served us above and beyond his duties. He was knowledgeable and trustworthy.”
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