In the Anne Arundel County real estate market, conditions are beginning to favor both buyers and sellers, as more houses are actively on the market compared to this time last year. December 2018 found an increase of 3% in the number of active listings, an increase of 64 units according to Market Stats via Showingtime.
The 553 new listings in December 2018 represent a 9% increase over December 2017. Active listings increased 3% over the same period. Pending listings had a jump as well, with the 531 pending listings in December 2018 indicating a 11% increase over December 2017. Actual sales of single family homes increased over the same period.
The data from Bright MLS shows that in December 2018, a total of 568 homes were sold in Anne Arundel County. This represents a decrease of 16% from December 2017.
Prices in the Anne Arundel County real estate market continued to climb slightly year over year. The median price of a home in Anne Arundel County increased 2-3 percent between December 2017 and December 2018. Average home prices rose on both attached and detached homes. The dollar volume of sales during the year increased 3% from 2017.
Homes spend an average of 73 days on the market in Anne Arundel County, which is a decrease from one year ago. Generally, stable prices, limited availability and a quick sale of those homes that come up for sale make Anne Arundel County a favorable environment for a well-priced seller and a buyer who is willing to put in the work to find the right home.
In general, buyers are searching for homes that are fairly priced, but even more, homes that are in good condition and appeal to the current decorative trends. Homes that are priced competitively and have the updates today’s buyers desire, will sell quickly. Sellers are wise to pay attention to condition and postion in the market.
Looking for a detailed snapshot of your local market in Anne Arundel County? Please feel free to contact me for more specific information regarding your neighborhood or area. I am always happy to help!