Saying that the real estate market in Havre de Grace was unremarkable in June 2011 might be a bit of an understatement. After seeing a drop in sales in May when compared to last year, another drop is being seen this June. This might be due to last year's stronger numbers resulting from the extension of the home buyer's tax credit, which required people to settle by June 30th, 2010. Still, after the tear that the Havre de Grace real estate market went on in the first quarter of this year, it is rather surprising that the market has cooled off as dramatically as it has.
Sales dipped by 17% when compared to last June in the Havre de Grace, MD real estate market, and the financing activity seemed to be split down the middle between FHA and VA financing. This would suggest that half were probably first time home buyers and that half were likely move-up buyers. The good thing is that the total days on market (DOM) decreased by 10.59%, and the number of active listings dropped by 14%. Could the decrease in sales be due to the decrease in inventory? It just might be….
Just how many homes are out there in the Havre de Grace real estate market? Well, currently, there are 178 homes for sale in Havre de Grace, compared to 207 from last year. That translates into 9 months of inventory on the market for Havre de Grace, MD’s real estate market, which is about twice as high as we’d like to see. Hopefully, with some of the improvements that are being attempted with regards to financial markets administration, we might see a more active market toward the end of the year.
Feel free to use the search tool at www.scottmillerrealestate.com to search real estate in the Havre de Grace market.
