Pricey Arundel houses hardest hit by slowdown

June 09, 1991|By Audrey Haar

Houses in Anne Arundel County priced under $140,000 are selling steadily, but there are few buyers for more expensive houses, according to Lynn Dulin, president of the Anne Arundel Association of Realtors.

Ms. Dulin, who is also manager of the commercial real estate department of Champion Realty in Severna Park, said sales "were going gangbusters in February, March and April, and then May there was a slowdown."

She attributed the slow sales pace in May to the unseasonably hot weather that lasted most of the month and to traditional family activities such as Mother's Day and school graduations. "It was quite an aberration. There is no other way to explain it," she said.

Odenton, near Fort Meade, is one area of the county with particularly strong sales, she said. Town houses priced from $114,000 to $120,000 are selling briskly. A new addition to the Odenton market is the Piney Orchard development. The development, which held its opening last month, will have 3,966 units.

In the Annapolis area, houses selling from $200,000 to $295,000 are selling well, Ms. Dulin said. Sales of Annapolis waterfront houses had stalled, but now they are starting to pick up, she added.

Sellers with houses priced from $300,000 have been the hardest hit during the real estate slow down. But some who were willing to trim 10 percent to 15 percent from their price were able to find buyers, Ms. Dulin said.

Tina Marine of the Annapolis office of Shannon & Luchs Real Estate agreed that sales of higher-priced houses in Annapolis have started to rise. But she pointed out that prices are staying low because of the large number of houses available.

"We have enough inventory to last us a long time," Ms. Marine said.

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