Ellicott City Realtor Catonsville Realtor

You may have heard lately on the national news that the Real Estate Market is flat.  Or you may have heard that the Real Estate Market is down, or not doing well.  But since Real Estate is sold on the local level, what's happening in other areas just doesn't apply here.

I've been working with a family the past few weeks - they are looking to purchase a single family home with an in-law suite.  They want what the area has to offer - good schools, good location, and a nice community.

We have place bids on three different homes in the past two weeks.  On the first two homes, my buyers were outbid, by other buyers willing to pay over the list price.  Currently, we are in a competing bid situation on a third property.  My buyers love the house and are willing to pay over the list price in order to get this home.

Needless to say, in this part of Maryland, in this price range (approximately $350 - $400,000), homes are moving.

The homes below represent a very small sampling of what's happening in our local market:  these homes are all located in either Howard, Carroll, Baltimore or Frederick County, have all sold in the past six months, and were all on the market for less than 30 days:

Every Monday I send out statistics on my blog and on Facebook.  More and more people are contacting me and are wondering about the Real Estate market - what do I think?  Do I think it's starting to turn around?

U.S. Federal Reserve Chief Ben Bernanke, speaking at the Brookings Institution yesterday said during a Q&A that the recession is "very likely" over, and that the "recovery is likely to be relatively slow at first", and ending his prepared remarks with "although we have avoided the worst, difficult challenges still lie ahead".

What I have been seeing in the Real Estate Market mirrors what Mr. Bernanke is saying:  I've been seeing a lot more activity and calls from buyers in recent weeks.  I've actually had competing offers on a property, a situation I have not seen in a couple of years.  .  Though activity has increased, we're not in for a steady climb right back up - the turn around in the Real Estate Market is likely to be slow going.

It does seem to me like we're at "the bottom", and that a slow come-back is starting.  Fortunately, in Howard County, people will always be motivated by location (location, location).  We are very fortunate to have a solid foundation, in that our area provides plenty of government jobs for both the Baltimore and the Washington DC areas.  We also have the added benefit of a great school system.

What's your opinion?