Submit Feedback
Member Login
Blogs Homepage
Featured Entries
Recent Entries
Recent Comments
Tags
My Starred Entries
Create A Blog
RSS FeedSales Trends Up in 2008 |
Jan. 7, 2008
NAR Anticipates Existing Home
Sales to Trend Up in 2008
Sales to Trend Up in 2008
Did someone say we're in a down market? You could have fooled me! I've never been busier! Properties ARE staying on the market a bit longer than they did in the recent past, (about twice as long than 2005) but there are still serious buyers purchasing everyday! What's the difference in the marketplace? Inventory. It's basic the old supply and demand issue. We currently are carrying roughly 4 times more active listings then we were in January of 2006 (a total of 16,660 to begin 2008 compared to 4114 in January 2005) in the Baltimore/Metro Area (encompassing Anne Arundel, Carroll, Harford, Howard, Baltimore City & County). This gives buyers a lot to choose from and allows them to be more selective. Because there is no apparent urgency, buyers are typically taking more time now to view everything in their price range, not wanting to leave any stone unturned. Think back a few years though, it wasn't all that long ago when buyers were having to view properties within hours of a new listing hitting the market only to be competing with many other offers.
The National Association of Realtors Chief Economist, Lawrence Yun anticipates national sales in 2008 to be at "fairly stable to slightly higher levels". He goes on to say "The broad trend over the coming year will be a gradual rise in existing home sales, but because sales are exceptionally low in the final months of 2007, total sales for 2008 will be only modestly higher than 2007"....."Existing nationalhome prices should be down 1.9% to a median of $217,600 for all of 2007, and then rise .3% to $218,300 in 2008". Click here to view the entire article
So, if you've been considering a move, whether buying or selling, I’d be honored if you’d allow me to help. If you're selling - the key to maximizing your profits in a changing market remains consistent - prepare your home properly, price it competitively and hire a professional to market your home aggressively. It’s never too early to begin planning your move. I’m happy to assist with pre-list staging if you’d like – just call or e-mail me! (410-975-3212 or Tina@Talk-To-Tina.com) If you're looking to buy - you'll want a knowledgeable professional to assist you through the entire process from financing through settlement. One who can negotiate on your behalf and help you achieve your dreams!
Member Login
Join RealTown
Request Password
RealTown RSS Feed