Mid Summer Housing Numbers for SP, Shipleys Choice and Annapolis May Surprise

Local Data Not a Mirror of Nationwide Figures

As the summer market winds to an end and area schools prepare to welcome our children back to class we thought we’d take a breath from the fast paced real estate world and let you know where our area stands.  You have all read reports that home prices are up, multiple contracts are coming in on new listings and buyers are writing escalating clauses again.(don’t get me started on those.)  As much of this was true this spring, our market activity has cooled a bit this summer. Some of the cooling is due to a seasonal slowdown which happens most years in mid-July and some of the cooling is due to the gradual release of pent up demand.

So here are some area figures…by the numbers. We looked at 3 different areas that we work in and compared sales figures from the first 7 months of 2012 to the first 7 months of 2013. We chose Annapolis due to its large sample size.  We also chose Severna Park as a heavily desired location for many home buyers.  And lastly we chose Shipely’s Choice in Millersville – a neighborhood that features very similar homes in age, size and style.

Severna Park(21146) was a surprise to me as there has been one less sale in 2013 than in 2012.  201 vs. 202

Annapolis(21401, 21403, 21409) was more along the lines of what I expected…822 sold this year versus 698 in 2012 over the same time period.  An increase of roughly 18%!

Shipley’s Choice – in 2012 over the first 7 months there were 21 sales with a median sales price of $550,000.  2013 has had only 18 sales but the median price for that same period is now $577,500…or an increase of 5%.

In our opinion we are dealing in a very healthy market.  Without  any more immediate large interest rate increases we look forward to a strong fall market.

If you would like an in depth ‘by the numbers’ analysis of your home or neighborhood feel free to contact me directly – mike@themurrayhometeam.com