July Real Estate Stats are in for Maryland Homes and inventory is down! As reported by MRIS (our MLS), it looks like things may be looking up a little for home sellers. In Baltimore County the number of homes for sale in July of 2009 decreased by 7.2% when compared to July of 08 which of course reduces a sellers competition. For the year that percentage is now 12.7% fewer homes for sale. The number of homes that sold and closed July of 09 compared to July of 08 increased by 14.8%.
Carroll and Harford Counties in Maryland are also showing a decrease in inventory. These two counties also showed a decrease in the days the property was on the market before it sold. Carroll County showed an increase in the number of homes sold, and while Harford County showed a slight decrease in the number of homes sold, the number of homes under contract (waiting to settle) saw a huge increase of over 30%
This could be good news for home sellers, but the market is still a good place for home buyers. Reasonable rates, the $8,000 tax credit for first time buyers (which will expire December 1, 2009 – you must have purchased your home and closed on it before December 1 to qualify) and contrary to what some buyers are hearing about, if as a buyer you have decent credit and a good employment record, you can purchase a home with a minimum amount of money and financing is available!
If you want to see all the details by county visit: http://www.ltrealty.com/statspage.htm
People constantly ask, is the market bouncing back, is the “fall” over? Every neighborhood is different. Some have not been hit as hard as others. If you are considering selling or buying a home you need to speak with a REALTOR and have them show you what is happening in your neighborhood! I know in Maryland, you can travel less than a couple of city blocks, or cross a main road and the housing market can be different.
If you would like a free Pin Point Price Analysis, contact me at 410-529-2500 Ext. 55. We can get started right over the phone.
