Sales Stats for October in Maryland are in and they look pretty decent.
If you don’t think the first time home buyer’s tax credit along with excellent interest rates has had an impact on the number of homes available for sale, we may have to think again! While not every first time buyer buys a townhome, it’s a good judge of the impact. Take a look at the numbers and judge for yourself.
In all three counties, Baltimore, Carroll and Harford, the inventory of townhomes available has dropped over 15% compared to October of last year.
Single family home inventory has dropped between 13-23% over the three counties as well.
The medium sales price in all three counties did drop from about 7.5 – 10% compared to last year’s data, but considering there are parts of the country where there is anywhere from 20-50%+ drop in prices, we’re doing pretty well! Also, keep in mind we went through over 4 years of double digit increases per month as high as 24% per month in prices prior to this.
This is important to all homeowners and their property values. As inventory begins to dwindle, prices will steady.
If you’d like to look at the details by county, follow this link! http://www.ltrealty.com/statspage.htm
Every neighborhood is different. These figures are just to give you a feel for the market by county.
Please remember, if you need a Pin Point Price Analysis of your current home, or you know of a friend or family member that does, please call me directly on my cell at 410-262-3674, so I can be of assistance.
What do you think?
Have a great day, and hope to speak with you soon!
