Posts Tagged ‘Calvert County new home market’

Significant Changes in Real Estate News – June & July 2010 Report

Tuesday, August 10th, 2010

Our newest editions on the real estate market here in Calvert County bring new data and changes worth reviewing:

June Highlights-

  • Homes are selling faster than recent months have reported.  On average, a house is on the market for about a month less than before, which is a pleasant decrease in the waiting period for sellers.
  • The average listing price of a home is back under $300,000.00 like it was in previous months.  The last time we saw over $300,000.00 for a home listing was back in January.  It is definitely a buyer’s market right now.
  • The number of homes sold are holding steady since last month at a little over 100 homes this month.  This is significant as this is only the second time home sales have broken 100 in a year.

 

Some noticeable differences in our July report below:

 

  • There was a drop in sales from June to July with 57 total homes sold.  The decrease in sales could be due to summer vacations and busy summer schedules. Hopefully things will pick back up next month.
  • Great news!   On average this report, homes were on the market less than 100 days, giving confidence to homeowners selling their properties.
  • The “sold price” for homes is back over $300,000.00 after decreasing last month to around $274,000.00.  Let’s hope this trend continues for sellers in our county!

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The State of Calvert County Real Estate – May 2010

Monday, June 28th, 2010

Calvert County Housing Market Trends Through May 2010

In this third issue of The State of Calvert County Real Estate, let’s discuss the activity and trends we’ve been seeing over the last couple of months. The chart below presents a lot of data but shows a few points worth noting:

  • The month of May saw a dramatic increase in sales compared to months prior.  Sales were double what we saw in February and March.
  • The seller contribution to closing costs has remained consistent, around $6,000.00.  Sellers, be prepared to assist your buyer in this market.
  • On a positive note, there has been an increase in the sales price of homes.  Sales prices have hit over $300,000.00 for the first time since January 2010.

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How Can You Tell When We've Reached the Bottom?

Sunday, January 3rd, 2010

Several New Reports Give Insights

For those of us whose constantly monitor the housing market, we’re ever watchful for what we hope will be the bottom of this Great Recession. Why are we looking so hard? Because no recovery can start until most of  the lights are off. The bottom will give us a new foundation upon which the economy and the housing market can rebuild.  Thankfully, all real estate markets are local.  We’re very grateful that we’re in the Washington Metro market which is still supporting strong job growth. Many areas of the country (FL, AZ, NV, CA) still have considerable bleeding left before they reach the bottom. 

In a recent report by Mark Zandi, chief economist of Moody’s Economy.com, noted that prices in the Washington Metro market would decline by about 6% but rebound next year by more than 4%.  Another report by Hanley Wood Market Intelligence places the DC area in the top 10 real estate markets in the country.

Speaking in very local terms, our Calvert County market seems to be sprouting some “green shoots” of stabilization.  In fact, our home and lot prices have started to rise in the last few months. This hasn’t happened for over two years. Be on the lookout for Melissa’s upcoming blog post where she’ll do an in depth analysis of our local sales activity.

So just maybe what I see rising under my feet is the bottom. Let’s hope.

Brooke

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Posted in Calvert County New Homes, Calvert County real estate, Good news, Kaine Homes news, Living in Calvert County, Useful information | View Comments