The Real Estate Market in Waldorf, Maryland is turning around!
August 31, 2009 by admin · Leave a Comment
Is the Real Estate Market in Charles County and Waldorf finally turning around?
It’s been a long time since we saw good news in the real estate market. In the last few years we’ve seen that home values have dropped, sales slowed to a near standstill, and foreclosure rates skyrocketed. The good news is that national sales trends have picked up recently, and it looks like we may have finally hit the bottom of the real estate market downturn. According to a report released on August 26th, 2009, new home sales are up 9.6% in July, and up 30% from the beginning of the year. All of that is fine and well, but what about the local market?
The best way to look at sales trends is at the local level! If we take a look at current sales in Carrington, we can see that as of August 26th, there are 60 homes currently for sale. of those 60, 21 are under contract!! The national average for inventory volume is between 5-6 months, but the inventory volume for Carrington is just under 3 months! This is excellent news for homeowners in the neighborhood!
It’s great to see sales up, but what about prices? Unfortunately, you’re not going to find that prices have risen back to the levels we saw 5 years ago. Listing prices for homes that are UNDER CONTRACT range from a high of $299,900 to a low of $139,999.
Homes that are currently active on the market range in price from $299,995 to $145,900. A quick look at recent sales shows a range in value from $279,000 to $126,500. Want to know how your home compares? Give me a call at (301)-653-8116 and request a free Market Analysis for your home!
~Jonathan Benya- Realtor
Century 21 New Millennium
9405-A Chesapeake St
La Plata, MD 20646
301-609-9000 – office
301-653-8116 – cell
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