Towson real estate encompasses 21286 and 21204. The zip codes have very different market areas and statistics!

The average sold price in 21286 was up 9.36% over the same period last year. That is great news for Towson homeowners! Average sales price went up from $321,777 last November, to $351,887. The total sales dropped 12.51%in the same time, and only 20 homes sold versus 25 last year, a drop of 20%.

17 new homes came on the market, and 15 went under contract in November, leaving a total of 107 currently for sale in 21286.

This tells me that the 21286 home sales market is fairly stable, and I hope to see that for the whole year as I look in January at 2010.

There is always a sense of excitement — that a new year can mean great things.

What will happen in the Towson real estate market? Will it rise? Will it fall? Will it stay at its’ teetering stabilization point that it has been in? I think we will remain about where we are — I don’t foresee a jump, but I think our neighborhoods are strong and prices will remain strong.

What about the real estate market in general? A few economists, like the National Association of REALTORS (R) economist, think there will be about a 10% increase.

I tend to be cautious in my optimism, and think we still have a large number of short sales and foreclosures coming down the pike in 2010, which will drop values lower, or keep them at the lower prices we are seeing now. I truly don’t foresee a real true recovery until 2012.

What does this mean for Towson sellers? That your homes are still worth a great amount because our area has been stabilized. That being said, they are not worth what they were even two years ago, so you can’t think about those prices when considering selling your home.

What does this mean for Towson homebuyers? BUY! It is a GREAT time! Interest rates are still very low, and prices are much lower than they have been in years.

For a true value estimation of a Towson home as a homebuyer or seller, or to find if this is the right time for you to move, please contact me – I am happy to help!

Jamie was putting together a series of articles called “Hidden Gems” about areas in Baltimore County and City that were in high demand areas — but not high demand prices.

Part of the criteria was that the median sales price had to be under the “affordable housing” line of $250,000. The buyer’s market of today has put Loch Raven Village and Knettishall in that range.

I was quoted a few times in the article, (thank you Jamie!), and I think she got a great feel for the neighborhood from a few different perspectives. Please read Jamie Smith Hopkins’ Baltimore Sun article about this Hidden Gem of an area!

There are many things that I love about Loch Raven Village and Knettishall. The homes are brick, well built, and generally beautiful. The streets are lined with trees and are so inviting. Its location in Towson and Parkville is convenient for both driving and public transportation. Shops are close by — the newly refurbished Towson Place, the nearby redone Towson Town Center, the Loch Raven Boulevard shops…it is all right there.

I recently sold one in the neighborhood on Aberdeen Road on the eastern side of Loch Raven Boulevard in Parkville. I know the neighborhood well. If you have any questions or would like to sell your Loch Raven Village home or buy one and take advantage of the $8,000 tax credit or $6,500 tax credit, please contact me today. I would love to help!