It's a great time to buy or sell!
With gas prices down and consumer confidence improving, it has never been a better time to feel good about buying or selling a home. And statistically speaking, the data proves it! Interest rates are around 3.75% for a 30 year fixed. The third quarter of 2014 rose 5% the highest since 2003 and a that's on top of 4.6% growth in the 2nd quarter.
Locally, Southern Maryland shows signs of upward trends in the housing market. In 2014 Calvert, St. Mary's & Charles sales were up 14%, 13%, and 14% respectively and the trend is expected to continue for a banner 2015!
Calvert
As of December 1, 2014 sales were up 14% over 2013
The average sold price is up .6%
Average days on market is down over 15% to 107
The average sold vs original sales price is holding at 94%
Saint Mary's
As of December 1, 2014 sales were up 13% over 2013
The average sold price is up .7%
Average days on market is up 4% to about 105 days
The average sold vs original sales price is holding at around 95%
Charles
As of December 1, 2014 sales were up 14% over 2013
The average sold price is up 3.6%
Average days on market is up 6% to 85
The average sold vs original sales price is holding at 95%
Foreclosures and short sales continue to be a large part of the market place, and investor influence is notable, especially with distressed properties. If you would like more information on Short Sales and Bank-owned homes, call DeHanas Real Estate Services at 301-870-1717.
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