21204 Home Sales Statistics February 2010

January and February 2010 has shown some recovery and growth over last year at the same time for Towson home sales.

21204 houses that settled had prices up $24,000. Under contract, however, was down around $106,500 (23%). I attribute much of that drop in February due to the two blizzards. Half as many new listings as last year came on the market (not surprising since they were buried under about 4 1/2 feet of snow), which the National Association of REALTORS® has found across the areas hit by these storms.

21204 home sales have remained strong, though, this year over last year, and have continued to be consistent over time. Though the amounts may rise some months, the graphs show a consistent level of sales and prices.

Here is the full report on median price on market dynamics for the Towson 21204 zip code.

West Towson Elementary School Boundaries Meeting March 10 and West Towson Homeowners

On March 10, the Baltimore County Board of Education had a final meeting before their March 23 vote on the boundaries of the new West Towson Elementary School.

This meeting, unlike the one in January, which had hundreds of attendees with many speaking about the boundary options, this one had very few, and only four Board of Education members available.

Loni Ingraham of the Towson Times covered the hearing, and described it as very tame in comparison to other sessions.

The scenario that has been recommended by the panel for the vote is the West Towson Scenerio G, as depicted in the 4th page of this document provided by Towson Families United.

It is a relief to have these meetings behind us and will be nice to be able to move forward, knowing where children will be attending school in the fall. Most West Towson homeowners were in the same position as my family, where in any of the scenerios, our district would be changed to the West Towson Elementary School, so we were not as affected as others.

I can understand the irritation and passion over where someone send their child to school, but redistricting can ALWAYS happen, and at least the Baltimore County Board of Education gave Towson residents the opportunity to have their voices heard.

This redistricting is part of why Maryland Realtors® are not allowed to talk about the quality of schools when helping someone with the purchase or sale of a home. Most also recommend calling your local school board or looking online (like www.bcps.org for Baltimore County Public Schools) to find a school district. You cannot safely choose a home solely because of a school district because you never know when the attendance boundaries might be changed.

21204 Towson Home Sale Statistics 2009 Year In Review

Reviewing the 21204 zip code sales, contracts and listings for December of ’08-December of ’09, there are many interesting variations throughout the year.

The good part for the owners of Towson homes in the $500,000 and higher range, is that finally these seem to be selling! 11 properties in December went under contract with a median price of $500,000. 14 properties settled in the same time period with that same median price.

The graph through the rest of 2009 has shown that houses have been consistently selling, but that the average sales price was under $400,000 (some months by a large amount).

Other good news is that sales and prices are up a tremendous amount over the same time period at the end of 2008, showing that Towson and 21204 seem to be in a recovery & stabilizing mode.

Click here for the full report.

I am excited to see how January’s numbers look, because I have been seeing quite a number of higher priced homes in 21204 going under contract since the beginning of a year. I will update you when those numbers come out!

Towson Residents Help Determine West Towson Elementary School Boundaries

Over 300 people attended the meeting at Loch Raven High School last night about where the boundaries may be drawn, and which children in Towson may be redistricted to the new West Towson Elementary School.

The Towson Families United group, which is “A coalition of parents and residents seeking a long-term solution to Towson’s overcrowded schools”, reports on their site that four different options were presented, and then the attendees were split into smaller groups to discuss what factor was most important to them in making a boundary change, and each individual was asked to choose which of the four they would prefer to see. The data collected will be sent to an independent research facility for analyzing and the results sent to the committee for further review.

The boundary committee making these recommendations to the Baltimore County School Board is run by Central Area Assistant Superintendent Barbara Walker, and is comprised of parents, community representatives (for example, there is one from the Ruxton Riderwood Lake Roland Improvement Association and one from the Rodgers Forge Community Association) , teachers, and Administrators.

A formal recommendation will be given to the Baltimore County School Board by school officials on February 9, 2010 at its regular Board Meeting. After that point, another meeting will be held for public commentary on February 24, 2010 at Loch Raven High School.

The final decision will be announced March 9, 2010 at 7:00 pm.

It is wonderful that Towson residents are given this opportunity to voice their opinions and be such a large part of this large decision making process. It makes it more and more prevalent why living in Towson is such a great thing!

New Maryland Property Tax Assessments to Average 19.7% Lower Value — What This Means for Towson Homes

The new tax assessments for the State of Maryland are due to come out in the upcoming days, and the state’s assessment office says it will show an unusual thing — a drop of an average of 19.7% in value since 2005-6, the last time many of these homes were assessed.

What does this mean for Towson Homeowners?

Not much, unfortunately.

Your taxes will not be lowered, as Maryland still needs your money.

Also, the way assessments are structured, even if your value had jumped UP tremendously, the taxes would only rise a capped amount. The 19.7% drop does not lower the value enough to restructure your property’s tax rate. In most cases, unless you bought your home in the last two years, your taxes will still rise.

Larry Carson of the Baltimore Sun wrote a very detailed article explaining the drop in values but not in taxes owed.

Towson has not dropped in value as dramatically as some areas, so I do not expect to see that percentage here. I will be curious to see what Maryland now has my Towson home assessed to be versus its true market value.

Tax assessments are not actual market values of a home, so be aware of this. If you would like a true market value range for your Towson home, please contact me, and I will be happy to give you an approximation of market value!

Graul’s in Ruxton Holiday Tasting Events December 4-6, 2009

This Friday, Saturday and Sunday, you can enjoy living in Towson near Ruxton if you want to try some great food at Graul’s in Ruxton or be happy you live in Timonium near the Graul’s in Mays Chapel.

Friday from 4-7 enjoy yummy appetizers that are easy to make! Saturday and Sunday, try some ”Over the Top” Holiday Favorites from 11-5.

As the email they sent says, “Bring your family to join our family for a Taste of the Holiday Season”!

Graul’s continues to be a great cornerstone for both the Ruxton and Mays Chapel communities, offering good food both local and imported, and wine shops attached to complement your meals.

I love living near the Graul’s in Ruxton for both the convenience and these neat events they hold. We are there on a regular basis — and the staff really does make you feel like family!

So join their family this weekend and enjoy some delicious food while you are there. Another great reason to live in Towson or live in Mays Chapel!

21204 Home Sale Statistics Past Six Months

My compilation of the 21204 real estate market statistics for the last six months are here!  The full chart includes data on sales, contract, and active homes from May 25-November 8, 2009.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What this shows is that the lower priced Towson homes are the ones that are selling best. The first week in June the median sales price was over $1M, but since then, it has been generally under $500,000.  West Towson house values are continuing to be strong, while the higher priced areas of the 21204 real estate market, such as Ruxton home sales, are not as solid.

Another interesting spike is the “under contract price” for the second and third weeks in August, but even more notable is the lack of corresponding “settled price” spikes, suggesting those homes did not go for their asking prices.

Consistently, there have been over 80 homes for sale in 21204, while on average only 2-3 of those homes are going under contract each month, and only 2-3 are settling each month.  There is definitely a large inventory for Towson homebuyers, with an average of only 3.75% of listed homes going under contract each month.

These 21204 home sale statistics show that pricing correctly, having the home in showplace condition, and good marketing are imperative in this Towson housing market.

Please note that these are statistics from the multiple list. The chart is an overview of the zip code and does not take into account the type (condo, townhouse, single family) or condition of the home. To have a true value understanding of your Towson home or neighborhood, these factors need to be taken into consideration. If you would like a Towson home price evaluation, please contact me today.

West Towson — West Joppa Road to be closed Monday-Friday 11/16-11/20/09 from Woodbine to Bosley

West Joppa Road in West Towson will be closed from 9am – 3pm this entire workweek, Monday 11/16-Friday 11/20/2009 from Woodbine Avenue to Bosley Avenue.

As in past weeks, there will be detours through the West Towson neighborhood. Please use caution and drive slowly through here, as these roads and homeowners are not used to having large amounts of traffic through!

Alternate routes also include Kenilworth Avenue from Charles Street to Bosley or a little further south, Towsontown Blvd runs from Charles to Bosley as well.

Ruxton-Riderwood-Lake Roland Area Improvement Association’s Dumpster Day Saturday, November 14, 2009

Do you live in the Ruxton, Riderwood, or Lake Roland area?

Well, join the RRLRAIA (Ruxton-Riderwood-Lake Roland Area Improvement Association) for its’ Dumpster Day this Saturday from 8 am -12 noon at Riderwood Elementary School.

To be held rain or shine (right now the forecast is calling for the rain to end Friday and Saturday should be just cloudy), this is a great opportunity to get rid of some of the “junk” we all have somewhere in our Towson homes! There are some limitations — they will not accept large tree stumps, appliances, tires, paints, pesticides, or hazardous materials, but that is usual for a dumpster restriction.

The other great news is that they will have a truck from Goodwill Industries there so you can donate items in good condition to the charity — clothing, furniture, and the like.

A great event to have sponsored by our Association. Thank you, RRLRAIA!

West Towson House Values Not Hurt by New Elementary School

On June 3, 2009, Judge Michael J. Finifter declared that the West Towson Elementary School can continue construction, ruling against a few Towson homeowners who had filed suit against the Board of Education in April.

The homeowners live adjacent to the Ridge Ruxton School on Charles Street, the site where the new school is to be built. Their claim that the construction would inconvenience them, and their Towson house values would be diminished were found to be unconvincing to the judge.

The Baltimore Sun’s Arin Gencer reported on Judge Finifter’s findings, and has been following the case since its hearing on May 21, keeping the West Towson Community updated on the school.

The Towson West Elementary School will house approximately 451 students coming from the overcrowded Riderwood Elementary School and Rodgers Forge Elementary Schools. It is scheduled to open in August 2010.

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