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Bel Air Real Estate Market Update

Bel Air Real Estate Market UpdateBel Air Real Estate Market Update

Compass Home Group
Call/Text 443-360-0086

Residential Real Estate is a very localized market, with neighborhoods within a few thousand feet of each other often selling at very different price points.  With that being said, let’s jump into our Bel Air Real Estate Market Report focusing only on homes sold in 21014 and 21015.  The average sold price of a home in Bel Air came in at $313,158 for the month of April, up over 6% from the same time last year!  Great news for homeowners who may have been underwater just 12 months ago!  82 Bel Air Homes went to settlement in April, up an incredible 82% from April 2014, and more than 2.5x’s the number of homes sales than January.  The Spring market is in full bloom as we push towards Summer.  60 Bel Air homes received new contracts in April, up 33% from last year, and over 11% from just last month.  As the children wind down their school year more and more buyers will take advantage of low interest rates to make a move over Summer vacation.

For a FREE market valuation of what your Bel Air Home is worth, complete our short seller survey here!  You will receive a full market analysis of your home plus a 2015 Guide to Selling Your Maryland Home!

For home buyers, 334 active homes sit on the market for your choosing as of the end of April, up only 1.5% from last year.  With the number of active listings only increasing slightly, while the demand for a Bel Air home is seeing significant gains we continue to push deeper into a Sellers market.  As it stands Bel Air has 4 months of active inventory (total units actively listed divided by # of homes sold), the lowest point of the year.  The National Association of Realtors considers a 6 month supply of homes to be a healthy and balanced market.  181 new listings hit the market in April, up 23% from April 2014.  Homes, on average, are taking a little bit longer to sell right now, coming in with an average of 110 days, down 10% from last year, but up 16% from last month.  Note that certain areas are seeing homes selling with multiple offers in only a couple days when priced well.

If you are looking to purchase your first home, or need to sell a home in order to purchase your next home, register now for our FREE Home Buying Seminar offered monthly right in Bel Air!!

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Bel Air Home Sales Research Tool

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
Get a FREE REPORT of your HOME’S VALUE at www.ListWithCompass.com

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