Published on February 28, 2014
Positive Housing Trends in Maryland Expected to Continue in 2014
•Providing a variety of services, from home staging to relocation, Creig Northrop has over 20 years of real estate experience in Maryland. Currently working as a real estate agent with Long & Foster Real Estate, Creig Northrop and his team maintain a customer satisfaction rating of 97 percent and are recognized as Maryland’s #1 Real Estate Team for all brokerages for 2010, 2011 & 2012 according to REAL Trends.
•Despite the select housing markets that are still recovering, recent trends in Maryland are showing steady growth in home sales, and it is predicted that several counties within the state will continue this upward trend through 2014. Statistics from December 2013 showed a large jump in the total number of homes sold in the state, with an increase of just over 10 percent compared to the previous year. Maryland also experienced a high rate of short sales during the same month. Over 8 percent of the state’s home sales were short sales, which is the fourth highest percentage in the United States.
•Average price also rose by around 2 percent, while the median price increased by almost 5 percent. These positive trends are predicted to continue, specifically in the areas of Frederick, Rockville, and Bethesda. While the number of available single-family homes is down in Maryland, demand is high, which has created a good seller’s market. Meanwhile, to account for the lack of housing, downtown Bethesda is expected to build 2,000 new condominiums and apartments in the next few years.
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