For Zip Code 21915
July sales for Chesapeake City MD declined from 4 homes to 2. The Pending numbers seem to be stable but we would like to see this increase 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.
Chesapeake City is lagging behind 2010 Levels by only 10 to last years 15.
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 Chesapeake City Remains the one of the weakest areas for the whole county.
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