Queen Anne's County, MD Real Estate Market Overview for January, 2016 - Long and Foster Real Estate CompanyLong and Foster Real Estate Company

0 Flares Filament.io 0 Flares ×

Queen Anne's County, MD Real Estate Market Overview:

· More homes sold in 2015 than previous 9 years.
· 65% more homes sold in January 2016 than January 2015
· 18% fewer homes on the market than last year
· Just 4% percent fewer homes under contract than in the last 8 years
· Overall, Queen Anne’s County has a Normal Buyer’s Market with the towns of Barclay, Chester, Ingleside, Millington, Queenstown, Stevensville and Sudlersville markets doing well.
· Average and Medium Sales Price are up 40% and 22%, respectably.
· 57% Fewer Days on the Market

· The Fed finally hiked on December 16th, causing fears of rising rates in 2016.But global financial markets came into the new year in distress. Now markets aren't even convinced that we'll see another Fed rate hike in 2016. Major stock indices plummeted around the world, and investors sought shelter in the bond market. When investor demand for bonds increases, rates fall. So we're left with much lower mortgage rates despite the Fed having just begun its hiking cycle. This paradoxical trend can continue as long as global market turmoil fuels a demand for safer haven investments. A big bounce in oil/stock prices could mean trouble for rates–at least temporarily. SOURCE: Mortgage Daily News