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
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