This Month in Real Estate May 2016

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Diane Donnelly from The Donnelly Group is a guest speaker at an upcoming series of FREE workshops focused on “How To Sell Your Home for More!”  If you would like more information or to register, visit SellAHouseTips.com  This is a FREE workshop so reserve your seat now!  Refreshments provided.


This Month in Real Estate

A Real Estate Market Watch

Spring is still swinging in the real estate industry! In May, 862 units sold in Anne Arundel County, a 14.8% increase over May, 2015. The average sold price in May was $375,929, an increase of 5.05% over this time last year. The average days on market (DOM) for this month were 72 days, 13 days less than this time last year (we saw 84 DOM in May 2015).

We are continuing to see that most of the sold activity in Anne Arundel County occurred in the under $400,000 price point. In May, 2016, 459 homes sold in this price range, which makes up 53.25% of the total sold inventory in the county. First time buyers continue to be a trend in the industry, as seen here in this statistic. The $400,000 – $600,000 price point is the second largest category, making up 22.5% of the total sold inventory with 194 homes sold this month.

New Pending sales are up 3.8% over last year (1,012 homes in May versus 975 last year) so we are still seeing the Spring market flourishing.

Here at Keller Williams we compared how our brokerage was compared to other brokerages in the area. Keller Williams Flagship has seen an increase of 19% of Listings Sold compared to other brokerages, who only saw a 10% increase from April 2015 to April 2016. Our brokerage is also outpacing all other brokerages by 24% in Listings Sold Volume- Keller Williams Flagship reports an increase of 31% between 2014 and 2015 and all other brokerages report a 7% increase in that same time frame. The Donnelly Group helped 10 clients buy or sell their home in May 2016, contributing the Keller Williams Flagship’s Listings Sold and Listings Sold Volume.

Real Estate Market Watch for Anne Arundel County May 2016

What Does It All Mean?

With the sales activity continuing strongly, the industry is still down on current inventory. Active listings were down to 1,253, a decrease of 8.7% over May 2015. Combined with the increased average sales price ($375,929 in May 2016 versus $357,866 in May 2015, a 5.05% increase), now is a great time to put your house on the market if you are considering selling. Demand is up and inventory is down, creating a competitive environment for sellers. Choosing your brokerage and team is very important as well and the Donnelly Group is proud to be a part of the Keller Williams Flagship growth. If you would like a free, no obligation detailed market report of your neighborhood or more information about selling your home, please call our team at 443-308-4918 and we are happy to help! You can also attend an upcoming series of FREE workshops focused on “How to Sell Your Home for More!” where Diane Donnelly from the Donnelly Group will be a guest speaker. If you would like more information or to register, visit SellAHouseTips.com. This is a FREE workshop so reserve your seat now!  Refreshments provided.

We are full time realtors with 20+ years of experience providing the passion and commitment to give you a 5 star customer service experience for you, your friends, your family, and everyone else you might know! We are devoted to improving lives one home at a time.

 

The data relating to real estate for sale on this web site comes from MRIS. Listing information comes from various brokers who participate in the MRIS IDX. Properties listed with brokerage firms other than The Donnelly Group of Keller Williams Integrity are marked with the MRIS Logo and detailed information about them includes the name of the listing brokers. The properties displayed may not be all the properties available. All information provided is deemed reliable but is not guaranteed and should be independently verified.