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The State of Home Sales Above One Million Dollars

If you are interested in the state of home sales above one million dollars in the Anne Arundel, Queen Anne’s and Talbot county area, let us share some information regarding recent sales.

According to information we obtained from the Metropolitan Regional Information System (MRIS) which is the real estate Broker multiple listing system (MLS) for the area, there were 18 sales of homes in the three county area of Anne Arundel, Queen Anne’s and Talbot from April 1st, 2011 to the date of this article May 18th, 2011.

Those 18 sales represent a little over 2.5% of all property sales (716) and approximately 3.56% of all detached homes sales (505) during the April 1st to May 18th time frame.

The most expensive home sold was an 1,861 square foot bungalow and farm sitting on 153 acres of land on the Chester River with 2,500 feet of water frontage. This property was sold with zero days on the market. Clearly there was a buyer who had been eyeing this property and it sold for full list price.

There were two other properties which sold with zero days on the market, however they sold for less than list price, with one selling fairly close at 96.97% of list price, while the other sold for 85.55% of list price.

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photos courtesy of MRIS

Overall the average days on market for the eighteen properties was 339 days and the median days on the market was 195 days. The spread for the days on market of the properties ranged from 0 to 1,175 days on the market.

Looking at price we find the following:

  List Price Sold Price
Average Price $1,774,278 $1,594,722
Median Price $1,672,500 $1,500,000
Low Price $1,075,000 $   985,000
High Price $3,750,000 $3,750,000

Whether you are in the market for a waterfront, water view or any other type of property, searching for property just got easier. We have property search applications for online web or mobile searching.
Visit us to find out more about these tools at:
Charles Kraus – Home Search Tool

Charles Kraus, Associate Broker                             Coldwell Banker Residential Brokerage
Annapolis Plaza            170 Jennifer Rd                  Suite 102               Annapolis, MD 21401
office: (800) 456-1996