Hunt Valley house values for October 2010 were on the rise, showing good signs for recovery in the fourth quarter of the year.
Though two less homes settled from the same time last year, average Hunt Valley house values were up 14.64% from $336,862 in October 2009 to $386,167 this October. This is the second month in a row of increasing home sales prices in Hunt Valley!
Also getting better is the average amount of time it takes to sell a home in Hunt Valley — down to 47 days from a high of 161 days in 2009, a drop of 70.81% from this month last year. Great news for homeowners wishing to sell — less hassle because their house is on the market for less time — and their values, in general, have risen!
There are a few factors that could create a false positive in the 21030 zip code, one major one being that many foreclosures had been halted due to the “Robo-signing” controversy, and though Maryland was not one of the states where the lawsuits were filed, while the banks were figuring out the issues, they stopped things in their tracks.
Add onto that the natural yearly slow down of active foreclosures heading into the holiday season, plus the election year, and you have good reasons why it could possibly have looked better than it truly is.
I like to think on the bright side, and view it as the Hunt Valley housing market at the beginning of recovery, but I am cautiously optimistic at this point. I will be following the trend over the next few months, and see how January and February shape up for the 2011 market.
For more Hunt Valley real estate needs, make sure to contact me!