Markets Updated (January)

A quick housing trend update for Anne Arundel County for Janauray 2012.

(Note - All figures are compared to January of 2011)

Units Sold - 305, down 2%
Active Inventory - 2643, down 22%  (3408 units)
Median Sale Price - $275,000, down 7% ($296,500)
Days on Market - 106, up 2%
New Listings - 588, down 15% (695)
Current Contracts - 462, up 17% (395)
Sold vs. List Price - 95.5%, up .7%
Months of Supply - 8.7, down 21%
(Months of supply is calculated by dividing current inventory by current sales. Months of supply indicates how many months would be needed to sell all of the inventory available at current rate of demand.)

So, in other words, now is a great time to buy, and sell. Interest rates are at an all time low, driving both buyer and seller activity. Prices are starting to somewhat stabilize and if you can put up the possible added stress and have a little bit of extra time - there are some short sells out there with amazing potential.

If you are interested in a market update for your area, just let me know.

Until next time, keep staying on Top of the Market -

Erik Hart
REALTOR®
Severna Park Sales
Long and Foster Realtors
410-544-4000 Office
443-889-6860 Cell
www.erikhart.lnf.com