For industry, 2000 kept good roll going

March 04, 2001|By Robert Nusgart | Robert Nusgart,SUN REAL ESTATE EDITOR

Maybe it was luck. Maybe it was fate. Whatever it was, Barbara Stammer saw it as a Realtor's version of hitting the lottery.

During a span of 30 days, not only was she able one time to sell 936 Bywater Road - a multimillion-dollar, Mediterranean-styled waterfront villa fronting the South River - she did it twice. The first time, it was for $2.9 million. Then, when the new owner took a lucrative job offer in California days after settling on the Anne Arundel County property, Stammer had another buyer ready to jump right in at the price of $3.2 million.

"It is what every Realtor dreams of," said Stammer, who works out of the Annapolis office of Long & Foster Real Estate Inc. "The second people did pay $3.2 [million], and basically what they were doing was covering the [first buyer's] closing costs, his costs for inspections plus a small profit."

Stammer's quick turnaround highlights the kind of year 2000 was for sales of existing homes in the Baltimore metropolitan area.

When 1999 ended with another record year for sales in the region, few in the industry thought 2000 would be better. But, lifted by the lure of urban living in Baltimore and the magnetic draw of Howard County's public schools, the region showed a 1.68 percent sales increase last year vs. 1999, according to statistics released by the Metropolitan Regional Information Systems Inc.

Overall, 31,405 homes were sold last year, compared with 30,886 in 1999. Baltimore showed the biggest increase, with a gain of 12.21 percent. Howard County was next with a 7.05 percent rise. Harford County was up 1.53 percent. Baltimore County saw its sales drop 4.59 percent. Carroll County was down 1.14 percent, and Anne Arundel County dropped 1.7 percent from 1999.

As fast as agents were listing homes, they were selling them. Of the 31,405 homes sold, 42.25 percent sold within the first 30 days of being on the market, and 58.3 percent sold by day 60.

In Howard County, the average number of days on the market for a home dropped from 71 to 56. Of the 4,206 Howard County homes sold last year, 2,400 were bought during the first 30 days.

Although half of the jurisdictions showed a drop in sales, the average price for a home climbed in all but Baltimore, which was down 0.55 percent to $82,228. That's not bad, given that the average price of a city home was $73,950 in 1995.

The average sales price in the region rose to $158,727, a 2.97 percent increase over 1999, and was almost $10,000 more than in 1998, when the average sales price was $148,953.

Anne Arundel County, with almost 300 homes selling for more than $500,000, saw its average sales price climb 7.56 percent to $206,155; Harford County increased to $155,814, a 5.51 percent jump; Howard County was up 3.02 percent to $212,721; Baltimore County grew by 2.55 percent to $151,495; and Carroll County rose by 2.11 percent to $180,128.

If you focus on single-family detached homes with four or more bedrooms, the price increases are more noteworthy. That type of home in the Baltimore region rose 8.25 percent last year to an average sales price of $273,194, up from $252,369. In 1998, the average sales price was $235,527.

Howard County showed the biggest gain among jurisdictions in regard to the typical four-bedroom suburban home, as the average sales price jumped 9.65 percent to $318,206 from $290,198 in 1999. That's an 18.63 percent increase over 1998, when that variety of home had an average sales price of $268,221. Overall value of the homes sold in the region increased, as total dollar volume rose by 4.7 percent to $4.98 billion from $4.76 billion in 1999.

The 2000 top 25 existing-home sales in Maryland

Price Address County BR Bath F/H

1. $9,500,000 5985 Canterbury Drive Talbot 9 5/1

2. $8,750,000 99999 Oxford Road Talbot 4 2/1

3. $7,250,000 26900 Chloras Point Road Talbot 4 3/1

4. $4,100,000 1541 Cedar Lane Farm Road Anne Arundel 6 7/2

5. $4,000,000 2858 Riva Road Anne Arundel 6 7/2

6. $4,000,000 8611 Burning Tree Road Montgomery 5 3/1

7. $4,000,000 17700 Comus Road Montgomery 7 5/1

8. $3,400,000 2570 Ocean Gateway Talbot 4 2/0

9. $3,200,000 936 Bywater Road Anne Arundel 5 3/1

10. $3,200,000 10017 Bentcross Drive Montgomery 6 7/2

11. $3,050,000 1801 5630 Wisconsin Ave. Montgomery 4 5/1

12. $2,975,000 27409 Baileys Neck Road Talbot 8 7/0

13. $2,950,000 6223 Kennedy Drive Montgomery 5 5/1

14. $2,900,000 936 Bywater Road Anne Arundel 5 3/1

15. $2,825,000 9712 Sorrel Ave. Montgomery 7 8/2

16. $2,730,000 1116 Greenspring Valley Road Baltimore Co. 5 6/0

17. $2,725,000 308 Tilghman St. Talbot 4 3/0

18. $2,500,000 3310 Harness Creek Road Anne Arundel 4 3/1

19. $2,440,000 5510 Chamberlin Ave. Montgomery 6 7/2

20. $2,425,000 27111 Island Creek Road Talbot 6 2/1

21. $2,402,000 994 Melvin Road Anne Arundel 5 5/0

22. $2,350,000 3066 Rundelac Road Anne Arundel 3 4/1

23. $2,350,000 26014 Bachelor Harbor Drive Talbot 3 2/2

24. $2,350,000 11005 Cripplegate Road Montgomery 8 6/1

25. $2,300,000 6 Loudon Lane Anne Arundel 5 4/1

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