Market Conditions for Anne Arundel County, Maryland
Reported by Jerry Boyer, GRI, Associate Broker, Senior Housing Specialist
Updated October 19, 2009.
Current Market Rating: 1
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Buyer's
Seller's
Current Price Trend: 2
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Falling
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Recovery in the Real Estate industry is in the air. The $8,000 tax credit for first time buyers has had a definite affect on the sale of properties under $400,000. Unfortunately it is coming to an end in November. As is the case with the whole Baltimore/Washington corridor, we are still in a great buyer's market, but prices seem to have bottomed out. The inventory of homes available for buyers is still high. This is particularly true for upper end homes.
Much of the county is influenced by the proximity to water, as it borders the Chesapeake Bay, and encompasses a number of rivers that feed it. The home styles range from modest condominiums and townhouses to palatial estates on the water. Housing prices range from the low $100,000's, to well over $3,000,000.
The Western part of the county is strongly influenced by the presence of Fort Meade and NSA. This creates a very transient population, as the military transfers personnel every three or four years. There has been a fairly recent serge in residential developement in this part of the county, and news of the expansion of training at Fort Meade will probably fuel further building.
Many people have realized that real estate is now at bargain basement prices, and this has added to the growing demand. Mortgage rates are still hovering around 5.5% on 30 year fixed loans. It appears that rates will begin to rise slightly in the near future.
ZIP Codes: 21401, 21402, 21403, 21404, 20707, 20708, 20755, 20794, 21054, 21060, 21061, 21076, 21108, 21113, 21114, 21144, 21146 Approximate Location Boundaries: The Eastern boundary is the Chesapeake Bay; Northern boundary is Baltimore City; Western boundary is Howard and prince Georges Counties; Southern boundary is Calvert County.
Location Characteristics: This county encompasses the City of Annapolis, the state capital, which is very urban; to Glen Burnie, Ferndale and Harundale, that are suburban areas of Baltimore; to the central and southern areas that are still quite rural.
About Jerry Boyer:
I've been Listing and selling residential real estate for 25 years. In that time I have learned that my clients needs and desires are all that matters, and I do my best to help them in every way I can. My experience and attention to all the details help to make a smooth transaction.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
