Where will the Carroll County Real Estate Market go in 2015? First, we have to look back at the year just ending 2014.
Overall Carroll County Real Estate surpassed its breakout year of 2013, but not by much. The average sale price was up by just 1.1% to $283,000, with the southern end of the county, Sykesville, Eldersburg, Woodbine & Marriottsville leading the way with over a 4% increase. There were 3 other smaller areas that did even better- Manchester up 5.3%, Taneytown, up 6.3% and Manchester up 7%! Westminster which has the most volume of home sales within the county, had a decrease in its average sale price of 2.3%.
The year ended with the average sales price in the following areas: Westminster $253k, Taneytown $225k, New Windsor $278k, Manchester $258k, Sykesville & Eldersburg $350k.
The really good news in the Carroll County Real Estate Market is that the total number of closed sales was up 6.7% with an average number of days on market staying below 100, and ending up at 92. After digesting all the numbers and trends- more homes in Carroll County are selling and at a faster pace. The Sold price is a moving target, with the traditional southern end of the county continuing to lead the way.
In 2015, having recharged my crystal ball, I see more of the same; modest sales price growth of 2-4% and more homes selling in 2015 than 2014. The average days on market may creep up to the 100 day level, why is that? I see more sellers finally being able to sell their home after being “under water” (owing more than the property is worth) for the last 7 years. Neighbors are seeing neighbors selling their homes and realizing they too can sell if they want or need. Interest rates were headed to 5%, not anymore; I see the continued 4% mortgage interest rate range throughout 2015. Gas prices have a direct impact on the northern part of Carroll County and the outlook for 2015 looks to stay under $3 a gallon, very good news!
Overall good news, but what about your specific situation? I don’t know until I talk with you and see exactly what your neighborhood is doing and/or where and when you are looking to buy. Whether you’re buying or selling, let spend a little time with you and discuss the right path to reach your goal. Carroll County Real Estate in 2015 is not an easy thing, what worked or was known in the past, may not apply to today’s complicated real estate transactions.
My name is David Post and I’m a full time Realtor here in Carroll County Maryland. If I can assist you or someone you know in either buying or selling a property in Carroll County or any other nearby county, please call me direct at 410-984-2221 anytime. This is what I do and this is what I love…. Real Estate!