Bel Air MD Real Estate Update January 2015
The year is done, and the final real estate stats for 2014 have been tallied for the Bel Air MD Real Estate market. Bel Air is the smallest market that we look at each month, but showed us some of the largest gains last month, showing us homes in Bel Air priced well are getting SOLD! 66 homes sold in December 2014, up 37.5% from the same time last year, and up almost 27% from last month! Of those homes sold, the average sales price came in at $289,960, up 3.4% from last year! This is great news for homeowners as homes show appreciation as we end out 2014. 28 new buyers went under contract on Bel Air homes during the month of December, up a staggering 64% from last year. Through the first 12 days of January, those numbers in December don't seem to be slowing whatsoever.
Currently, there are 307 active homes for sale in Bel Air. This number changes daily, but that reflects a 5% increase from this time last year. With current sales trends, this is only 4.6 months of inventory on the market for buyers to choose from. National Association of Realtors considers a six month inventory, a healthy market. This means supply is low, demand is high, and we find ourselves in a sellers market throughout Bel Air. Homes priced well, in good condition, and properly staged and marketed are selling fast! For a FREE market valuation of your home, complete our short seller survey and receive a 2015 Home Selling Guide Free.
60 new homes hit the Bel Air real estate market last month, up 46% from last year, but down 41% from November 2014. December typically finds sellers removing their homes from the market and waiting for the "spring" market to list. We can tell you that the Spring Market is here!! It came early this year and we expect January and February to be packed with buyers as rates are still at historic lows, and FHA PMI costs have been cut by .5%!! This savings opens up home buyers utilizing an FHA loan into higher price points.
If you're in the market to purchase a new home, sign up today for our next home buying seminar at www.HarfordHomeBuying.com. Current vendor partners are offering Free Home Warranties, Free appraisals, and even a Free home inspection. Sign up today and you will receive a complimentary Home Buying Guide PLUS, free credit scoring.
Compass Home Group of Keller Williams American Premier Realty
Tim Langhauser & Michele McCartin
Call or Text 443-360-0086 for information Broker: 443-512-0090
Get a FREE REPORT of your HOME'S VALUE at www.ListWithCompass.com