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Creative Considerations for February 2020

Don’t get caught sleeping through the winter!

The Spring market is here, and NOW is the time to take action. If you’re thinking about selling your home, contact us for a complimentary home evaluation and staging consultation.

Hey, it’s James Bowerman with the Real Creative Group of Douglas Realty, and you’re watching Creative Considerations. This is your February 2020 real estate market update for Anne Arundel County. Now let’s jump into the numbers behind me, and then I’ll explain a little bit more about what these numbers mean, if you’re thinking about buying or selling in today’s market.

First and foremost, let’s look at coming soon listings. These are homes that are not yet on the market but will be in the next 21 days. That green arrow means this is a big increase over what we saw last month. More homes are going to be coming on, which is good news for buyers, because inventory is low, and we can see that here in the active listings. These are homes you can go out, look at and purchase, but it’s a decrease and overall, you can see in the months of inventory, we’re still very low and it’s still very much a seller’s market.

Under contract, now we did see an increase in that, which is very interesting and I’ll touch on that in my considerations shortly. Homes sold, we did see a decrease. A lot of the inventory sold off in the end of the year and into January. Not as many homes available. There’s going to be fewer homes sold. That’s why there’s that red arrow there. Sold to list percentage. You can see a red arrow there, so that went down slightly. Not really anything to be concerned about. Homes are still selling pretty close to what the list price would be. Days on market did not change at all. Stuck at 50 days. Now you might see in some isolated areas, that might be higher. It might be lower, but that’s just our average for the whole county.

Looking at these numbers, we see some green arrows, some red arrows. What does that all mean? Well, as I mentioned, the coming soon listings is a big indicator of people already getting their homes on the market ready to sell now. They’re not waiting for the spring and neither are the buyers. Buyers are out there actively looking and putting homes under contract. I personally sold four homes in January and had another seven pending, and I’m still working with a handful of buyers who are actively looking to find their home. So this means that the spring market is already here. It’s only February. The inventory is low, but it’s going to be coming up. So if you’re a smart seller, get your home ready and get it on the market now, because with less inventory, you’re competing against less sellers who are also putting their home on the market. Buyers are out there, they’re looking and you’re going to have great success.

So those are my thoughts and my considerations on the market. And this is your February 2020 real estate market update for Anne Arundel County. I’m James Bowerman with the Real Creative Group of Douglas Realty. Thank you so much for watching and we’ll see you again soon.

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