April sales continued on an upward trend for the county to 63. We have been seeing this trend since the February low of 43 Sales. It appears this may continue in May and beyond based on the pending contracts made a modest increase to 144 during the month. This may be seasonal increases but there is positive signs for the next few months.
Sales however are still below 2010 Levels mostly based on the Government Rebate Program that was in full swing last year.
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.
As a matter of fact, Listing Inventory (at 866) is at its lowest point since 2006, the height of the Boom!
The Bottom Line:
We should start to see price stabilization, byers seeing less inventory may get off the fence and start to realize that the rates you can buy the house are not going to last forever. Its the same as the Price Boom, This rate Boom will END! When it does, many of these great deals will no longer be affordable.
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
Susan Hubbell, Realtor, GRI
Steve Hubbell, Realtor
The "Bay Property Team"
E-Mail us at
Renee Hauf, Realtor
"Specializing in Waterfront
Water Access Properties"
EXiT Preferred Realty
2615 Augustine Herman Hwy
Chesapeake City, MD 21915