The Mid-Atlantic Region has had a nice year! It's definitely a seller's market- home prices are up, days on market is down, and the number of homes on the market is very low. If you're a buyer in this market, don't wait to purchase - home prices are only going up. It's going to be competitive, but you'll start building equity right away in most areas. Below are some of the hottest cities buyers are moving to. If you're a seller in these areas, you won't be waiting long to cash in on your investment. See how I can help.
Anne Arundel has experienced some nice growth so far this year. The full city list is below, but check out the top 5:
- Lothian, MD
My hometown! The reason for Lothian's recent sales growth is the purchase of a few luxury properties in town coupled with a lot of mobile home resales in the move-up market. This is still mostly farm & horse country and we're bordered by the Patuxent River to the west. A lot of property tends to be passed down through family here, but there are currently plenty of new construction homes to choose from. If you're looking for a luxury estate, this is a great place to explore; it's about 30 minutes from both Washington, DC and Annapolis, MD.
- Arnold, MD
Another city by the water, where you can find a wide range of home prices and styles. Arnold located just north of the Severn River from Annapolis and is bordered to the north by the Magothy River which opens to the bay. First Time Home Buyers can expect to spend up to $395,000 on a 3 bedroom, 2 bath home here. Move-up buyers and luxury homeowners can expect to spend anywhere from $400,000 $3,000,000+ for their dream home (no seriously, the most expensive home in Arnold to sell this year so far sold for $3,075,000).
- Davidsonville, MD
It's tough to find a country setting that's still minutes away from the nation's Capital or the Chesapeake Bay. Davidsonville is home to many horse farms and boarding stables, as well as some larger tracts of land that are farmed. The median sales price here (the dividing line between first-time purchasers and move-up buyers) is about $463,000 but that should get you a 2,800-3,000 SF Colonial home with 4 bedrooms and 3 baths. Because most homeowners who move here STAY here, the local market tends to move quick and stay strong!
- Shady Side, MD
I always highly recommend that folks who want to move to a slower-paced, community-oriented city by the water for an affordable price check out Shady Side or Deale, MD. You can have your pick of places to hang out- from an amazing sushi place, to dockside bars. There are plenty of marinas to dock your boat and you have both riverside and bay side properties to choose from. Shady Side is the place you can live by the beach for under $400,000 without all the crowds.
- Laurel, MD
Both the Prince George's and Anne Arundel sides of Laurel are thriving this year, and no wonder! Plenty of new construction and resales, with everything from condos to luxury lakeside estates to choose from. South Laurel, in PG County, tends to be a bit more affordable with lower property taxes. In North Laurel the median sales price is only $250,000 so you can afford to live relatively close to Washington, DC without too long of a commute. This is an extremely fast-paced market right now with a tendency for bidding wars, so I suggest that prospective buyers here go in strong and don't wait.
|Median Sold Price - Cities:|
|July||Year to Date|
|Location||2016||2015||% Change||2016||2015||% Change|
|Shady Side, MD||$315,950||$250,000||26%||$230,000||$229,000||0%|
|West River, MD||$450,000||$382,838||18%||$480,000||$400,000||20%|
|Curtis Bay, MD||$242,000||$208,000||16%||$206,500||$211,000||-2%|
|Linthicum Heights, MD||$275,000||$242,500||13%||$259,900||$249,900||4%|
|Glen Burnie, MD||$245,000||$229,900||7%||$238,950||$225,000||6%|
|Fort George G Meade, MD||$0||$0||0%||$0||$0||0%|
|North Beach, MD||$270,000||$272,450||-1%||$255,000||$249,900||2%|
|Severna Park, MD||$480,250||$507,000||-5%||$500,000||$485,000||3%|
|Gibson Island, MD||$0||$1,725,000||-100%||$1,650,000||$1,625,000||2%|
|Tracys Landing, MD||$0||$240,000||-100%||$350,000||$270,000||30%|
2016 MarketStats by ShowingTime. Data Provided by MRIS as of Aug 4, 2016
Dunkirk MD Homes for Sale - Genna Fleming, REALTOR® at EXIT ELITE REALTY
You now have free access to my Real Estate Search Engine! I am your local real estate expert with the knowledge and experience to deliver the unsurpassed service you deserve. Local Specialties: Upper Marlboro, Lanham, Lothian, Edgewater, Annapolis, & Dunkirk. Call Genna Fleming at (443) 532-8917 or follow my real estate adventures on Instagram @realestateaskgenna