There was a rather notable shift in the market for Havre de Grace real estate from last November to November of 2011. Although the number of homes sold actually decreased by 31%, the price of those properties transferred went up by 17.5%. When I saw this, I had to look even further; not because I thought that it was a fluke, but to see what type of homes were actually selling.
I found out that they were actually all over the place. The lowest-priced home sold was a little foreclosure on Alliance Street that went for $51,000, and the most expensive was a condo down at Heron Harbor that changed hands at the bulky price of $550,000. Of course, there were others mixed in; a new construction in Greenway Farms, and a brand new 3 acre colonial with over 4,000 square feet in Briney Farms (see picture).
So where does this bring us? Havre de Grace is changing a bit, with a large portion of the property there being a little pricey, and as we all know, this end of the market is less susceptible to unemployment and other issues plaguing millions of Americans these days. What is going to happen as the market rebounds is kind of counterintuitive; the average price of a sold property will actually go down as the economy improves, since more lower-priced homes will sell which will moderate the figures.
