Wow, what a great start to 2015! We don’t have the hard data from January yet, but our contracts, open houses, calls, and word-of-mouth from fellow Howard County agents suggests that 2015 is indeed coming in like a lion!
The number of sales, at 270, was up 16.4% from last December. Very impressive! Home prices have remained strong, as well, even with a sizable inventory of 1,040 homes on the market – up over 27% from last December.
What Can Slow Us Down?
Interest rates are artificially low, and, in the short run, our friends at the Federal Reserve are indicating that the rates will stay that way. The spring market is shaping up to be a good one, but any word from the Fed could cause a very rapid decrease in demand.
Maryland’s foreclosure backlog is the fourth highest in the nation, and when these properties hit the market, expect prices to soften in certain areas. No one knows exactly when these oft-neglected homes will hit the market, but we’re hoping they will come on the market gradually, and not all at once.
As always, the numbers that matter most are yours. Drop us a line for a complimentary market analysis of your home or neighborhood. We’re happy to help!
Laura Kittleman is a partner at The Kittleman Group of Keller Williams Select Realtors, working primarily in Howard County and Montgomery County, Maryland. She can be reached at 301-785-5889 or [email protected].
Tom Yeatts is a partner and Associate Broker with The Kittleman Group of Keller Williams Select Realtors. He can be reached at 443.364.8867 or [email protected].