At Home With Lisa- December 2022 Market Insight

Time to get the stats on the real estate market in Anne Arundel and Queen Anne's County.  Are we still in a sellers market?  Are the sellers still getting the prices they were a few months ago?  Has foreclosures increased recently?  What do you think?

Let's start with Queen Anne's County

New listings: 48
Down 9.4% from November (expected.  During holiday season).  But it's also down 14.3% from Dec 2021

New Pendings:  38
Down 32.1% from November

Closed Sales:  51
Up 6.3% from November.  Down 42.7% from Dec 2021

DOM (Days on Market):  37 (Again expected since Dec is a holiday month)

Avg Sold Price to Original List Price Ratio:  94.8%
96.6% in November and 99.4% December 2021
Shows sellers are not getting as much for their home at this point.

Foreclosures: 29 
21 of which are in pre-foreclosure
  5 Bank owned
  3 Auction

Months of Inventory:  .8
So it is still a sellers market.  Less than 6 months of Inventory is considered a sellers market.

Now let's take a look at Anne Arundel County Market Statistics

New Listings: 419
Down 17.5% from November 30.1% from December 2021

New Pendings:  440
Down 7.6% from November 29.1% from December 2021

Closed Sales:  499
Down 7.2% from November 44.7% from December 2021

Days On Market: 29

Avg Sold Price to Original List Price Ratio: 96.7%
98% in November and 99.2% December 2021
Showing sellers are not getting as much for their home at this point.

Foreclosures: 357
243 of which are in pre-foreclosure
  34 Bank Owned
  80 Auction

Months of Inventory:  1.8
So it is still a sellers market.  Less than 6 months of Inventory is considered a sellers market.

Now, if you're experiencing difficulty paying your mortgage (which is clearly becoming the case for some) and not sure what to do, contact me.  Don't feel like there's nothing for you to do but let the bank take your home.  There are upwards of 14 different options to consider.  First you should explore options for staying in your home, such as a Loan Modification or Forbearance. If every available option to stay in your home has been exhausted, and you have no other choice but to sell your property, the first thing that should be done is a property valuation. (I am a local CDPE, Certified Distressed Property Expert) that can assist you with all this).  Let's talk.  I'm here for you.

 I'm Lisa Longest with Realty Navigator. I am a full time Realtor® GRI® RENE® CDPE® and PSA® in Anne Arundel and Queen Anne  Counties.  I am here for all your real estate needs. If you are looking to buy, sell or question me about the market in your area, feel free to contact me. I am located in Annapolis and Kent Island. My email is LisaLongest.RE@Gmail.com and cell is 443-786-4200.