For Zip Code 21921
July sales for Elkton MD rose to 30 properties from 29. The Sales number seems to be fairly stable as pending sales recuced by 3 propertie to 50 going forward. Economic uncertainty is now a huge factor in buyers decisions. But the Fed has signaled that they will continue to keep rates down through the middle of 2013. We will just see if they are able to do this.
For the 1st time this year, sales are greater then last year, but still lagging behind 2010 Levels
New Listing Volume was weak again which is a positive note for existing sellers. As we clear inventory, prices should stabilize and entice more buyer activity, especially with rates so low.
Overall Elkton Remains the strongest area for the whole county accounting for almost half the sales in the Month of May!
The Bottom Line:
There is still a very weak economy and in tit has effected all the markets. But we still have historically low rates and good inventory, when you combine those factors it makes this the best time in a generation to buy a home, but try to convince anyone of that fact.......
Steve Hubbell, Realtor® - Internet Marketing Specialist - The "Bay Property Team" was formed in 2006 by Susan and Steve Hubbell to specialize in helping Buyers and Sellers invest in Waterfront and Water Access Properties in Chesapeake City, Elkton, Earleville, and Warwick in Cecil County MD. We also serve, Georgetown, Galena, and Kennedyville in Kent County MD and surrounding areas. (800)-890-0381