Annapolis Real Estate

8/26/2007:  How did the inventory in selected localities do this week?  As it turns out the inventory of Annapolis Homes, Bowie Homes and Crofton Homes continued to grow. (Expired and withdrawn listings are not included in the following.

28 new Annapolis homes came on the MLS as Active this week while only 13 went to settlement and 3 went under the contract status.  Contract status means that all contingencies have been removed.

55 new Bowie homes entered the MLS as Active this week while 16 were listed as sold and 7 went under contract.

Crofton homes saw 18 new active listings in the MLS while 7 changed status to sold and 3 to contract.

Overall, not including expired and withdrawn, listings aren't selling as fast as they're coming on the market.  There are some great opportunities out there right now as well as a pretty good bargaining position for qualified buyers.

8/23/2007:  The highest priced Crofton Home for sale, listed at $920,000, was withdrawn from the market today and immediately listed with another broker at $899,900. Originally listed at $950,000, this Crofton home has been on the market for 173 days. There has definitely been a softening in the upper end of the market.

8/21/2007:  Here is a link to the most expensive piece of Annapolis real estate listed today.  Nice looking Cape Cod Annapolis home listed at $1.3M.   

8/21/2007: Crofton rentals are still strong with the exception of a few rentals that seem to be hanging around for a while.  No real difference here than there is with resales hanging around too... overpriced and not in very good shape.  Zip code 21114 rentals have 27 active listings today ranging from $1,295 to $2,750.

8/18/2007: Last week saw the Crofton real estate market grow it's inventory once again. According to the local MLS 15 new Crofton homes were listed and 5 Crofton homes went to the settlement table. Prices seem to be at, or higher than prices of homes for the same period last year.

8/16/2007: The sub-prime mortgage fallout is certainly being felt in the poor performance of the DOW. It is also manifesting itself in the tightening of credit for all loans. Direct lenders are doing fewer loans from brokers and many borrowers are finding themselves without a loan just before closing. The Annapolis real estate market is not immune to this pressure and it's currently being reflected in the larger than normal inventory.

8/15/2007: The Crofton real estate inventory has grown to 182 Crofton homes for sale. In the last two days a net of eight homes have been added to the MLS. Unfortunately, in order to get to the net of plus eight Crofton homes it included eleven additions and three withdrawals.

8/13/2007 Crofton Homes: The Crofton real estate inventory stands at a total of 174 homes for sale. The least expensive home for sale in Crofton is a 2 BR, 1 BA condo listed for $224,900 while the most expensive home is a 5 BR, 4.5 BA listed for $920,000. The home that has been on the market the longest at 433 days is a 4 BR, 3.5 BA townhouse listed for $375,000. This is extremely unusual for the Crofton Market to have a reasonably priced townhouse on the market for that long. No new additional homes were added to the Crofton Homes for Sale today.

8/13/2007 Annapolis Homes: The Annapolis real estate inventory can be characterized as large. As of today there are a total of 955 Annapolis homes for sale. By any stretch this is a huge inventory that will take a while to reduce.