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Bel Air Real Estate Market Update September 2014

Bel Air Real Estate Market Update September 2014Bel Air Real Estate Market Update
Compass Home Group of Keller Williams American Premier Realty
Call or Text 443-360-0086

Numbers are in the Bel Air Real Estate market is still HOT for both Buyers and Sellers. With interest rates still at historic lows, and home pricing stabilized and beginning to trend upwards, it’s a perfect storm for a HOT fall market!  Let’s not waste anytime and jump right into the August 2014 Bel Air Real Estate Market Report Card.  The average price of a Bel Air home to sell last month came in at $304,964, up 7.41% from the previous month, and up 12.07% from just last month.  Remember, these numbers can jump dramatically with a few large home sales/purchases thrown in, but what we focus on is the continuous trending up for our homeowners.  Only 62 homes sold last month, which was a considerable drop from the previous year, down 22.50%.  August is typically a slower month as we jump into school beginning, and people wrapping up end of Summer vacations.

49 homes did go under contract during the month of August in the Bel Air Real Estate Market, jumping 8.9% from last year, and 16.7% from last month!  So buyers are coming out and ready to settle before we enter the Holiday Season.  Currently, there are 373 homes for sale in Bel Air, down 3.87% from last months inventory, but up 28.18% from the same time last year.  This is good for home sellers as the inventory has balanced itself out and helps to stabilize pricing.  Currently Bel Air is sitting on about 6 months of housing inventory, what the National Association of Realtors considers a “Balanced” market.  Equal opportunity for buyers and seller when homes are priced well and also show well.  115 new listings hit the market last month, down 1.71% from last year, and down 12.88% from last month!  Written contracts going up, new listings going down, means we could fall back into the sellers market with short inventory, give sellers more control with less opportunity for buyers.  Finally, we can look at average average days on market, sitting at 72 right now.  That is 72 days is the average length a home in Bel Air sits on the market before buyer and seller can agree on a contract.  About 6 days faster than last month!

Bel Air Homes for Sale      Bel Air Townhomes for Sale

Bel Air Condos for Sale     Bel Air Homes Under $300,000

If you’re interested in what the current value of your Bel Air home is, complete our short seller survey and let our team work up a FREE property value analysis of your Bel Air home.  Home values go up and down, neighborhoods trend, so hire a FULL-TIME, professional, real estate team and let us go to work getting your home SOLD!  We all have different goals in selling our home, some are based on a financial need, a timeline, a school district, etc… so be sure to know that your goals, is our goal.  Call us Today, Compass Home Group 443-360-0086

Compass Home Group of Keller Williams American Premier Realty
Tim Langhauser & Michele McCartin
Call or Text 443-360-0086 for information Broker: 443-512-0090

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