What happened in our region in 2014 Real Estate?? Let’s take a look by counties.
Carroll County’s average sold price in December 2014 was up 3.1% over the prior year. $310,983 was the average sold price in Carroll County.
In Frederick County, December revealed a 1.6% price decline over 2013 same period. Average sold price was $287,361.
Montgomery County registered a price decline of 2.4% in December compared to prior year. The average sold price was $491,031.
Howard County finished out the year with a 2.6% price gain over the 2013 end of year prices. $429,790 was the average price for homes sold in Howard County.
We have all been enjoying the downturn in living costs as indicated by prices at the gas pumps! Is there a relationship between gas prices and real estate activity? Maybe so. According to a recent Bloomberg Business article, “U.S. food retailers, pharmaceutical companies, makers of construction materials, banks and insurance companies have typically performed best in times of dollar strength.”
Areas where these business activities are strong should be growth areas in 2015.
Lower gas prices may enable an earlier payoff of student loans, perhaps prompting new graduates to get rid of their student loans more quickly and turn their attention to saving for a home purchase down payment. First time homebuyers paying high rents are more likely to compare the benefits of home ownership to rent slavery and spring for the extra bedroom for the baby.
Foreign investors with plenty of cash have sometimes crowded American investor purchasers out of the market. With the dollar in a strong position, buyer competition for attractive investment properties tends to level in favor of domestic investors, perhaps purchasing a condo for a student son or daughter instead of paying rent.
On all fronts, there’s no reason to gripe about lower gas prices, from our point of view!
Let us know if you have property-specific questions we may be able to answer. We'll be happy to hear from you.
Linda Odum, Associate Broker, REMAX 100
410-715-3206
Thursday, February 26, 2015
Thursday, October 9, 2014
Home is where the Heart Is
We human types tend to form mental scotomas about our homes: we 'see' certain failings or disadvantages; we blind out other failings or disadvantages about our living and working spaces.
Coming Home, and Leaving Home are both big emotional deals for children and adults.
Every trip in and out of the house typically involves some baggage: purses, jackets, shoes or boots, athletic equipment, pet leashes, book satchels, car keys, garage door openers. The list is practically endless.
How nice to have a neat, prepared, entry and exit point in your home, that speaks to your family members: You're Home! or, "See you soon!"
Since more space is almost always 'better', it's easy if you have a proper mudroom and can furnish it with cabinet space or wall-mounted baskets or cubbies, labeled to receive the appropriate items.
However, if you DON'T have a mudroom, there are other solutions. If you come through your front door into the home, think about a basket for shoes/boots just to the right of the front entry.
If you don't have a mudroom, select a convenient location near your "in and out" favorite door and install a series of pegs, hooks, and/or cubbies to receive the accumulated detritus of your family's activities. Attractive baskets which can be swept under the bed in a second or two are good solutions.
Love your home, and give it the attention it requires to make it your very best environmental nest.
Contact me for personalized staging advice for YOUR home at 410-715-3206.
Linda Odum, RE/MAX 100
Tuesday, April 8, 2014
Under All Is the Land
When you talk about Real Estate, almost everyone [except active buyers], thinks that an “up “ market is a good thing: homes are selling faster; homes are bringing more money; more homes are selling than used to sell. Circulation in the real estate market is widely considered to be a Very Good Thing.
Therefore December of 2013 brought Very Good News to our county areas. Carroll County, Frederick County, Montgomery, and Howard County all turned in “up” numbers.In Carroll County, Sold $ Volume, which is a combination of price and number of transactions, was up over December 2012 by 33%. Most of the change in dollar volume was due to the increased number of transactions, since average sold price climbed by a little more than three percent. Average sold price in December was $301,546.
In Frederick County, Sold $ Volume, [price and transactions], was up over the same month last year by 16.3%. Price climbed by 5% and number of transactions increased by 10%. The average sold price in Frederick County for December was $291,957.In Montgomery County, Sold $ Volume was up over December 2012 by 14.51%. Price escalation amounted to 3.6% across the board, while number of transactions increased more than 10%. The average sale price for a home in Montgomery County in December was $502,889, making Montgomery County, based on shelter cost alone, perhaps the most expensive place to live in our four-county area.
In Howard County, Sold $ Volume was up over December 2012 by 9.81%, and since the number of transactions compared to 2012 was only an additional two [2] homes, almost all of the change in dollar volume was caused by improvement in sale prices. The average home sold in December in Howard County cost $418,762. The change in average sold price was 8.86% higher.
These statistics are derived from Real Estate Business Intelligence, an MRIS proprietary company available to licensed, subscribed professionals in the real estate industry.End of year job reports and economic investment data seemed to be surprisingly positive, making us view 2014 with healthy optimism. In all areas of our reporting region, the average sale prices include all improved real estate, whether 1 bedroom or 4+ bedroom homes. Our region continues to offer quality shelter at generally “affordable” prices and the region has an excellent price/value ratio for quality of life.
Anecdotally, active professionals are experiencing the delight of bringing well-priced and carefully prepared homes into the marketplace and receiving contract offers within days. Courtney Odum-Duncan, of REMAX 100, presented her meticulous Seller with an acceptable offer after only 3 [three] days on the market during December holidays.
Even in the category of luxury homes, where purchases are almost always discretionary,a September listing in Farside went under contract in 17 days of being listed. And it hassettled successfully!
Lean on us freely for questions and answers regarding your own real estate “situations”.
Linda Odum, Associate Broker
REMAX 100
410-715-3206 and 443-838-3783
Linda@OdumRealEstate.com
Therefore December of 2013 brought Very Good News to our county areas. Carroll County, Frederick County, Montgomery, and Howard County all turned in “up” numbers.In Carroll County, Sold $ Volume, which is a combination of price and number of transactions, was up over December 2012 by 33%. Most of the change in dollar volume was due to the increased number of transactions, since average sold price climbed by a little more than three percent. Average sold price in December was $301,546.
In Frederick County, Sold $ Volume, [price and transactions], was up over the same month last year by 16.3%. Price climbed by 5% and number of transactions increased by 10%. The average sold price in Frederick County for December was $291,957.In Montgomery County, Sold $ Volume was up over December 2012 by 14.51%. Price escalation amounted to 3.6% across the board, while number of transactions increased more than 10%. The average sale price for a home in Montgomery County in December was $502,889, making Montgomery County, based on shelter cost alone, perhaps the most expensive place to live in our four-county area.
In Howard County, Sold $ Volume was up over December 2012 by 9.81%, and since the number of transactions compared to 2012 was only an additional two [2] homes, almost all of the change in dollar volume was caused by improvement in sale prices. The average home sold in December in Howard County cost $418,762. The change in average sold price was 8.86% higher.
These statistics are derived from Real Estate Business Intelligence, an MRIS proprietary company available to licensed, subscribed professionals in the real estate industry.End of year job reports and economic investment data seemed to be surprisingly positive, making us view 2014 with healthy optimism. In all areas of our reporting region, the average sale prices include all improved real estate, whether 1 bedroom or 4+ bedroom homes. Our region continues to offer quality shelter at generally “affordable” prices and the region has an excellent price/value ratio for quality of life.
Anecdotally, active professionals are experiencing the delight of bringing well-priced and carefully prepared homes into the marketplace and receiving contract offers within days. Courtney Odum-Duncan, of REMAX 100, presented her meticulous Seller with an acceptable offer after only 3 [three] days on the market during December holidays.
Even in the category of luxury homes, where purchases are almost always discretionary,a September listing in Farside went under contract in 17 days of being listed. And it hassettled successfully!
Lean on us freely for questions and answers regarding your own real estate “situations”.
Linda Odum, Associate Broker
REMAX 100
410-715-3206 and 443-838-3783
Linda@OdumRealEstate.com
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