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FEBRUARY HOUSING SALES FLAT, PRICES RISE

by MAR Stats

FEBRUARY HOUSING SALES FLAT, PRICES RISE

 

February existing home sales decreased slightly, but average and median price continued to rise, according to the Maryland Association of REALTORS®. Units sold declined by 0.02 percent, eight homes, compared to February of 2013, while average price rose by more than $19,000, or 7.2 percent, and median price increased more than $17,000, a gain of 7.7 percent.

“It’s not surprising that February sales were essentially flat compared to last year, given that it was one of the worst months in a winter season of unusually harsh weather,” said MAR President Russ Boyce. He noted, “That accounts for the half month increase in inventory and the dip in pending sales as well. But continued price increases indicate that consumer demand remains strong, and the spring selling season is likely to be robust.”

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Maryland monthly housing statistics are compiled by data as reported by MRIS and the Coastal Association of REALTORS®. For the purposes of this report, “units” are defined as the closed sales and “pending units” are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
*MAR publishes the Maryland Housing Statistics monthly; it is available through the Association’s website, www.mdrealtor.org.

The Maryland Association of REALTORS® is the largest Maryland professional trade association, serving over 22,000 members, and is dedicated to preserving the vitality of the real estate market. REALTOR® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTOR® organization's strict Code of Ethics, and who are members of the National, State and Local REALTOR® organizations.

Click Here to Read a Market Update from RBI 

7 Bathroom Remodeling Trends - From the National Associastion of Realtors

by Melissa Dittmann Tracey, REALTOR® Magazine

What’s trending in bathroom remodels? Houzz recently released its 2014 Winter Bathroom Trends Study showing the top bathroom remodel preferences of more than 7,500 home owners in the U.S. and Canada. The report shows that 60 percent of home owners are targeting the master bathroom for their bathroom remodels. The two main drivers for their remodels: To upgrade features and fixtures as well as to make space more functional.

Here are some of the growing trends that emerged from the Houzz report:

#1 Goodbye, bathtubs. The bathtub is starting to move out of the master bathroom. More than four in 10 – 43 percent – are forgoing a bathtub in the master bathroom, according to the report.

#2 Frameless glass is “in.” The majority of the home owners surveyed say they prefer glass shower enclosures and frameless glass. Glass block is “out,” according to the report.

#3 Let there be lots of light. Adding light was one of the top goal for home owners with their bathroom remodels, from adding windows to skylights to LED lights in the showerhead.

#4 Showing showerhead preferences. Rain and multiple showerheads are the clear choice for home owners under 45, while the 55-plus age group tends to prefer hand showers and sliding bars.

#5 Seeing white. White cabinets are the top choice in master bathrooms (with medium and dark wood coming in No. 2 and No. 3, respectively). Maple is the most common type of wood used, followed by cherry and oak.

6 Silver bling. Silver-tone faucets remain the most popular, with brushed nickel topping the list. Polished chrome is also popular, while brushed bronze came in as the least popular choice for current bathroom remodels.

#7 Unique powder rooms. The powder room is getting more unique features than other bathrooms. Hardwood floors, wallpaper, pedestal sinks, and furniture-like cabinets are more commonly used in these spaces than in other bathrooms.

 

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Photo of Phyllis Wiesenfelder Real Estate
Phyllis Wiesenfelder
Long & Foster Real Estate, Inc.
4650 East West Highway
Bethesda MD 20814
Direct: (301)215-6915
Mobile: (301)529-3896
Fax: Office: 301-907-7600