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Creative Considerations for March 2020

Your monthly real estate market update for Anne Arundel County with special guests the Mustache Mortgage Men, recorded live at Coastline Mortgage in Pasadena.

In this episode we dive into special considerations for the low interest rates and what this actually means for buyers looking to take advantage.

All right. Hey, everybody. We’re doing this live this month. This is Creative Considerations. My name is James Bowerman with the real creative group of Douglas Realty has some special guests today. The Mustache Mortgage Men, so if you see the mustache and you’re wondering what that’s about. I’m going to introduce you to those guys in a minute, but first I want to talk about the real estate market. This is your monthly update for Anna Arundel County. So behind me on the board you can see the numbers and we’re going to go through these briefly and then get into some considerations on what’s going on.

James Bowerman:
So first off, coming soon, 128 new listings coming soon at the beginning of this month. That is a big increase. It’s almost double from what we saw last month. So that’s a good sign with the low inventory that new homes are going to be coming on the market. It was pretty typical. We see that start to ramp up. It’s time of year. Temperatures are warming up, spring market is coming. So good things there.

James Bowerman:
Next, let’s look at active homes. We saw another decrease. Again, people are just buying, buying, buying, really driving down the inventory, and we can’t keep up. So seeing that go down and again directly correlated with homes under contract. So buyers are coming in and taking advantage of the, what you’ve heard a lot about, low interest rates and locking up these homes. That’s directly correlated too, with the homes sold. Again, that’s based on what’s last month we saw, 524 homes sold in Anna Arundel County. That was an increase. So even some of these homes that have been sitting a little longer, you can see days on market increased. Buyers are coming in. They want to take advantage. Maybe they’re compromising a little bit, there’s just not enough out there for them to choose from.

James Bowerman:
And then the last thing you’d see 96% list to sold ratio. So if we listed at this price, it’s going to sell it about 96%. Again, I think that’s directly correlated with the days on market and the low inventory. Homes have been sitting a little bit longer. Now they’re going to reduce the price a little bit and get them sold. So last thing I’ll touch on is three months of inventory. That’s been pretty much where we’ve been at for while. It’s a sellers market. And on that note, let’s talk about some considerations. I want to introduce some good friends of mine, the Mustache Mortgage Men.

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