|
|
January 30, 2009
Many people who buy Laurel real estate raise great kids. I was reading the Laurel Leader about one such great student. Katie Staub, is a senior at Laurel High School. Recently, Katie was named Student of the month by the City Concil of Laurel Maryland
Katie activities are pretty impressive. She has done over 300 hours of volunteer work at the Laurel Boys and Girls Club. She volunteered for both the Montpelier and Main Street festivals. In addition, Katie volunteers her time at the Laurel Volunteer Fire Department and hopes to become a member some day. Oh yes, a couple more things……Katie is captain of the cheerleaders at Laurel High School and plays on the school softball team.
I don’t know about you, but I got pretty tired reading and typing that! What a kid! Thanks Katie for being a great example of what all of us in Laurel Maryland can aspire to.
For more information about Laurel Maryland, visit Maryland real estate.
January 26, 2009
The four counties that Laurel Maryland sits in are Montgomery, Howard, Prince Georges and Ann Arundel counties in Maryland. The following are the most recent absorption rates for each county.
Montgomery County Maryland continues to have the highest absorption rate at twenty percent. Howard County is next at fifteen percent, followed closely by Prince Georges County at fourteen percent. Ann Arundel continues to have the lowest absorption rate at eleven percent.
The absorption rates clearly indicate the buyer market is still in full swing. However, the percentages have not gone down over the last three weeks, this could indicate a stabilization in the Maryland housing market.
For more information about Maryland housing trends, visit Maryland real estate.
January 23, 2009
There are a couple of interesting deals in Laurel real estate.
The first home is a four bedroom, two and half bath Colonial in West Laurel. The home has a car port and a finshed basement. This home was originally listed for over $400,000. The property now is listed for under $300,000. The home is a foreclosure, but is in move-in condition.
The second home is a few blocks away. This home is a four bedroom, two and a half bath split level home. The property was originally priced at about $330,000 and is now down to below $270,000. This home is also a foreclosure, but is in decent condition. The property is solid, but does need some cosmetic work.
Both these homes are located in a West Laurel neighborhood. Most homes in West Laurel are listed at $375,000 to $850,000. These homes represent a good deal for the prudent home shopper.
For more information on Laurel real estate, visit Maryland real estate.
January 21, 2009
Here the Absortion rates for the Montgomery, Prince Georges, Howard and Ann Arundel Counties in Maryland. Laurel real estate resides in all four counties.
In Montgomery County Maryland the absortion rate was at 20% this past week. Prince Georges County was at 14%. Howard County followed at 13% and Ann Arundel had the lowest Absorption rate at 11%.
Both Montgomery County and Prince Georges County showed an increase in the absorption rate from the previouse week. Howard County remained the same and Ann Arundel increased.
For more information on Maryland home sales, visit Maryland real estate.
January 15, 2009
| 2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 6,351,372 |
$ 6,751,845 |
- 5.93 % |
| Average Sold Price: |
$ 264,641 |
$ 337,592 |
- 21.61 % |
| Median Sold Price: |
$ 244,950 |
$ 306,000 |
- 19.95 % |
| Total Units Sold: |
24 |
20 |
20.00 % |
| Average Days on Market: |
127 |
58 |
118.97 % |
| Average List Price for Solds: |
$ 305,857 |
$ 357,055 |
- 14.34 % |
Avg Sale Price as a
percentage of Avg List Price: |
86.52 % |
94.55 % |
The chart above displays the home sales in Laurel Md zip code 20707. The numbers compare December 2008 with December 2007. As you can see, the housing correction is in full force in Prince Georges County Laurel Maryland. Both the average sold price and the median sold price dropped about 20% each from last December.
A significant number is the increase in homes sold this past December as compared to December 2007. December 2008 sold four more homes than the previous year, an increase of 20%. This is a reversal of a trend that has been consistent for the past couple years.
This could be a sign that the market is nearing the bottom.
For more information on the Maryland housing market, visit Maryland real estate.
January 13, 2009
| 2008 |
2007 |
% Change |
| Total Sold Dollar Volume: |
$ 277,819,892 |
$ 298,953,774 |
- 7.07 % |
| Average Sold Price: |
$ 431,397 |
$ 519,017 |
- 16.88 % |
| Median Sold Price: |
$ 341,750 |
$ 425,500 |
- 19.68 % |
| Total Units Sold: |
644 |
576 |
11.81 % |
| Average Days on Market: |
108 |
113 |
- 4.42 % |
| Average List Price for Solds: |
$ 485,521 |
$ 563,656 |
- 13.86 % |
Avg Sale Price as a
percentage of Avg List Price: |
88.85 % |
92.08 % |
One of the counties Laurel Maryland resides in is Montgomery County. Above are some detailed statistics on home sales in Montgomery County Maryland. As you can see in December of this year the correction in the market continues. Average sold and median sold price is down over 15% as compared to last December.
However, more homes sold in Montgomery County Maryland this past December than last December. In addition, days on the market decreased by just over four percent. These two numbers could be an indication the bottom is near in Montgomery County.
For more information on home sales in Maryland, visit Maryland housing market.
January 12, 2009
The following is a report of the absorption rate of the four Counties Laurel MD resides in. The four Maryland counties are Montgomery, Prince Georges, Howard and Ann Arundel. The absorption rate is the percentage of homes that sell in the first thirty days of being on the market. Any absortion rate at 23% or below is considered a buyer’s market.
In Montgomery County MD, 19% of homes are selling within the first thirty days. In Prince Georges and Howard County Maryland 13% of homes are selling in the first thirty days. And finally, in Ann Arundel County the absorption rate is 10%
All four Maryland counties continue to be buyer markets. This is a great time to buy Maryland real estate.
For more information on Maryland homes for sale, visit Maryland real estate.
January 9, 2009
I have a buyer interested in buying a home in the Laurel MD area. So I referred her to lender who specializes in first time home buyers. The lender called me back and said the buyer could go no higher than $185,000.
This buyer wants a three bedroom home with two full baths. As recently as a year ago, hearing “$185,000″ would have prevented this buyer from looking for a home.
But times have changed.
I went to my computer and punched in the buyer’s criteria. Fortyfive listings fit the criteria! Most of these homes are foreclosures or short sales. I use to dread showing foreclosures because those deals just wouldn’t work. Now, banks and agents have become better at handling these types of transactions. Foreclosures and short sales now make it to settlement.
The best thing is the price. Foreclosures and short sales are now in the range of first time home buyers. Homes are becoming affordable again. This is the begining of the end of the down slide of prices.
To find out how you can take advantage of these affordable homes, visit Maryland real estate.
January 8, 2009
When working with buyers who are interested in buying Laurel real estate, I often get asked, “Is now the best time to buy?”
Specifically, they want to know if houses are less expensive in the Winter versus the Spring and Summer months. While Spring tends to have more choices of homes because of the larger inventory….Spring has more of something else as well.
In the Spring there are more buyers. More buyers mean more competition for the best deals out there. Yes, even in this market, there is competition for homes. Buyers can be surprised when they make an offer on a house and there are three other offers on the property.
Just last week I showed a property that was very under-priced. Ofcourse my buyers loved it. Unfortunately, so did about eight other buyers. A bidding war erupted over this property and my buyers could not compete. The property was already listed at the top of their range.
The best time to buy? When you like a house and it fits your budget.
For more information on the best time to buy in Maryland, visit Maryland real estate.
January 7, 2009
Laurel Md home sales are spread across four different zip codes. The following information is updated today January 7, 2009. The absorption rate for the two Prince Georges County zip codes are higher than the Prince Georges County on the whole. In Laurel MD zip code 20707, 16% of homes are selling in the first thirty days. In Laurel zip code 20708, 21% of homes are selling in the first thirty days.
Both the above numbers indicate a buyers market continues in these areas. Though in 20708, it is almost a transition market.
In Howard County Laurel MD, 14% of homes are selling in the first thirty days in zip code 20723. And perhaps the biggest surprise is Laurel Md zip code 20724 in Ann Arundel County. In 20724 24% of homes are selling in the first thirty days. Howard county Laurel is still a buyers market.
However, Ann Arundel County Laurel Md is not a buyers market. It is a transition market, meaning it is between a buyer and seller market.
For more information on Maryland home sales, visit Maryland home sales.
Older Posts »
|
Contact Us
Brien Berard
RE/MAX
13994 Baltimore Ave.
Laurel, MD 20707
Phone: (301) 604-0198
|
