February saw increased movement in both the Resale and New Construction Hughesville markets. I spoke to some of the New Construction representatives in the area over the last several weeks. I wanted to get their take on their market. They showed me accounts of increased foot traffic and interest. Some of them have started including lot premiums again and in one case I saw price increases on a couple of their models.
The resale market has seen increased buyer activity as well. Showings are up and I think that can be attributed to pricing on resales coming down in recent months. The pricing appears to be at a level that has sparked buyer interest.
Even with the increased under contracts and traffic, with six new resale listings and eight new construction listings, market absorption appears to have changed little. We'll keep on eye on it as the spring market progresses.
Resales were priced between $264,900-$1,399,000. New Construction was priced between $369,900-$989,900.
Includes: Benedict Plantation, Bryantown Estates, Cameron Ridge, Carrico Mill, Carriage Crossing, Country Road Estates, Eastern Hills, Indian Creek Estates, Lake Jameson, Oakland Acres, Pine Grove Estates, Sandy Level Estates, Scouts Trail, Stoneleigh, Swanson Creek Landing, Walnut Hills, Willow Creek, Woodlawn Manor
Includes: Benedict Farms, Bucks Run, Carriage Crossing, Crystal Lake, Forest Run, Herbert Fields, Lake Jameson, Maple Brooke, Naylors Reserve, Ole Field Estates, Stoneleigh, Swan's Rest.
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When buying or selling a home in Hughesville, MD and the surrounding area, you deserve local expertise and advice. Craig W. Barrett provides professional Real Estate services to home buyers and sellers in the Maryland areas of Hughesville, Charlotte Hall, Benedict, Waldorf, La Plata, Mechanicsville, Aquasco, Baden, Croom and the Virginia areas of Leesburg, Ashburn, Aldie, Oak Hill, Fairfax, Montross and King George.
Thanks Julie. I learned the graphs from Renee Burrows. Here's the link to her post. Of course I learned some things from you too that are included here. Although the change in season can be a signal for buyers, I do think the drop in prices recently has gotten buyers attention. Have a great Sunday too and thanks for stopping by.