Anne Arundel County Maryland Luxury Housing Market Update October 17
Anne Arundel County, Maryland - October 17 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 419 New Listings 73 Units Sold Median Sale Price $914,816 18 16 1 1 1 8 6 O-14 A-15 O-15 A-16 O-16 A-17 O-17 8 7 6 5 3 1 O-14 A-15 O-15 A-16 O-16 A-17 O-17 $1,15, $1,1, $1,5, $1,, $95, $9, $85, $8, $75, O-14 A-15 O-15 A-16 O-16 A-17 O-17 Down -4.6% Down -6.4% Up 14.3% Down -16.8% 2
Anne Arundel County, Maryland - October 17 Compared to last October, the total number of homes more than $75, available this month was lower by 4.6% and lower by 3.2% compared to October 15. Active inventory this October was 5.6% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $75K + 16.44% $75K - $2M 14.% $2M - $5M 2.% $5M+.24% 6 ACTIVE INVENTORY 5 3 466 7 347 338 344 387 433 477 487 479 454 458 433 367 322 38 327 385 459 469 466 478 465 467 439 7 319 31 315 381 45 467 465 46 446 444 419 1 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 18 16 1 1 1 8 6 78 64 78 38 35 73 5 45 4 43 4 41 439 433 419 3
Anne Arundel County, Maryland - October 17 This month s units sold for homes more than $75, was higher than at this time last year, an increase of 14.3% versus last October and an increase of 8.1% versus October of 15. There was an increase of 11.1% in luxury units sold in October compared to September of this year. 42 38 36 34 32 UNITS SOLD Versus Previous Years 35 8 UNITS SOLD 7 76 6 5 3 1 38 38 11 14 32 22 54 44 36 33 31 1 26 41 51 41 33 35 33 34 16 49 5 68 57 5 36 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price October 13, 17 Edgewater 21 $2,, $1,975, 98.8% 118 October 26, 17 Severna Park 21146 $1,829, $1,77, 96.8% 39 October, 17 Edgewater 21 $1,799, $1,6, 88.9% 71 October 3, 17 Annapolis 211 $1,395, $1,288,5 92.4% 118 October 3, 17 Edgewater 21 $1,15, $1,175, 12.2% 1 October 24, 17 Edgewater 21 $95, $912,5 96.1% 3 October 27, 17 Riva 211 $9, $88, 95.1% 135 October 23, 17 Annapolis 213 $899,5 $875, 97.3% 28 October 27, 17 Edgewater 21 $885, $8, 94.9% 192 October 27, 17 Pasadena 21122 $819, $8, 97.7% 15 DOM Buyer Long & Foster Represented Seller 4
Anne Arundel County, Maryland - October 17 In October, the median sales price for homes more than $75, was $914,816, a decrease of 16.8% compared to last year. The current median sales price was higher by 1.7% than in September. $1,, $1,, $8, $6, $, $, $ $955, MEDIAN SALES PRICE Versus Previous Years $1,1, $914,816 $1,, MEDIAN SALES PRICE $1,, $8, $6, $997,5 $917,5 $866,65 $1,1, $9, $987, $87, $95, $876,385 $85, $872, $1,, $955, $9, $987,5 $1,65, $9, $887,5 $95, $975, $892, $872,5 $95, $887,5 $1,1, $1,3, $1,87,5 $9, $8, $9, $9, $855, $892,5 $89, $95, $899,5 $914,816 $, $, $ $9,, $8,, $7,, $6,, $5,, $,, $3,, $,, $1,, $ $47,1,5 TOTAL DOLLAR VOLUME SOLD $44,223,58 $44,813,9 $43,38,939 Total volume sold this October was 4.% lower than the same month one year ago. 5
Anne Arundel County, Maryland - October 17 In October, the average sale price for homes more than $75, was 95.8% of the average list price, which is higher than at this time last year. This month, the average number of days on market was 127, higher than the average last year, which was 14, an increase of 22.1%. 1% 95% 9% 92.7% 85% 8% SALE PRICE AS % OF LIST PRICE 95.% 9.7% 95.8% 18 16 1 1 1 8 6 147 123 1 146 71 153 145 115 85 98 131 1 84 123 DAYS ON MARKET 12 173 118 97 115 68 82 61 63 13 14117 MONTHS OF SUPPLY 85 113 1 88 9 94 6 114 76 76 127 In October, there were 1.5 months of supply available, compared to 12.5 in October of 16. That is a decrease of 16.% versus a year ago. 35 3 15 1 5 12.3.4 9.1 3.7 24.6 12.1 17.3 21.7 9. 1.9 12.6 13.9 11.7 11.8 8.1 12.3 32.7 14.8 12.4 11.4 6.1 9.4 11.3 14.2 12.5 11.4 9.4 8.4 19.7 19.1 9.2 9.3 6.8 8.1 8.9 12.3 1.5 6
Anne Arundel County, Maryland - October 17 References & Definitions ANNE ARUNDEL, MD: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the Metropolitan Regional Information Systems (MRIS) MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the county of Anne Arundel, Maryland only. Analysis dates for all regions are October 1, 14 through October 31, 17. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (5) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are October 1, 14 through October 31, 17. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. # 1 Seller of Luxury Homes in Mid-Atlantic based on data provided by local area Multiple Listing Services and their member Associations of REALTORS. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are October 1, 14 through October 31, 17". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7