Now is a GREAT time to buy a home in Annapolis, based upon this snapshot of the market for Annapolis (21401) zipcode during January 2007 (comparing it with January 2006):
- Total Sold Dollar Volume is down 26.27% to $16,035,510
- Average Sold Price is down 12% to $ 517,275
- Median Sold Price is down 6.59% to $425,000
- Total Units Sold is down 16.22% to 31
- Average Days on Market is up 80.33% to 110
- Average List Price for Sold Properties is down 10.34% to $559,300
As I've mentioned before, two statistics that always grab my eye are New Listings and New Sales. I like to see both numbers about the same. In January, however, there were 81 new listings in the 21401 zipcode of Annapolis and only 49 new sales. As inventory grows, supply and demand get further off balance and prices are more vulnerable - NOT good news for home sellers, but GREAT news for home buyers!
To obtain learn about real estate activity in YOUR neighborhood, click on Market Snapshot.
Larry and I are headed out to the RE/MAX International Convention in Atlanta, Georgia, where we expect to meet other RE/MAX pros from around the world and attend education sessions from dawn 'til dusk. In the coming weeks, I promise to share some of the new and innovative real estate solutions that we learn, so be sure to check back. I try to post a new article each weekend.
Feedback and questions:
Annapolis Sales Statistics - January
Source of Data: MRIS
Copyright 2007. All rights reserved. Margaret Woda
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