Chesapeake Bay waterfront homes are some of the most sought after real estate in the Washington-Baltimore metropolitan area. The Bay, as it’s locally referred to, offers boaters and fishermen a vast playground for water oriented recreational activities. Many waterfront homes located along the shores of the Chesapeake Bay offer unrivaled waterfront vistas, piers (some with deep water), and sandy beaches. You can find castles and cottages along the Chesapeake Bay.
Chesapeake Bay waterfront homes are well located only a short distance from Annapolis and the major metro areas of Washington DC and Baltimore. Local shopping, area attractions, and more are all within within easy driving distances. If you work for the Federal government, at one of the many military installations around the area (including Ft. Meade or NSA or other local government contractors) you can easily live a waterfront lifestyle. You also have the Baltimore Washington International Airport, better known as “BWI”, the region’s airport nearby.
The spring selling season is heating the Chesapeake Bay waterfront real estate market. Real estate activity, like recent temperatures, have been on the rise. Real estate agents are seeing have seen increased visitors to open houses, sometimes receiving multiple offers on desirable waterfront properties, and offers coming in within weeks and even days of waterfront homes going on the market. These are real positive signs that the Chesapeake Bay real estate market could be on the rebound.
The chart below tracks current real estate market trends for Anne Arundel County in Maryland where many Chesapeake Bay waterfront homes are located and shows active listings and new pending sales over the last year. The chart below is a dynamic and is updated about the 10th of each month to reflect that the latest trends in real estate.
There are 392 Chesapeake Bay waterfront homes for sale
for sale today. The average asking price is $1,184,155 and they have been on the market an average of 275 days. The minimum asking price for Chesapeake Bay waterfront homes for sale
is $150,000 and a maximum asking price of $15,000,000.
There are 80 Chesapeake Bay waterfront homes under contract today. The average asking price is $1,001,519, and they have been on the market an average of 237 days. The minimum asking price for Chesapeake Bay waterfront homes under contract is $124,500 and a maximum asking price of $6,495,000.
In the last 90 days there were 59 homes sold on the Chesapeake Bay waterfront in Anne Arundel County Maryland. The average list price was $851,470 and they were on the market for an average of 188 days. The minimum list price for sold listings was $161,900 and a maximum list price of $5,950,000.
The average sold price for Chesapeake Bay waterfront homes in Anne Arundel County Maryland during the period was $504,000 for a 83.47% sold-to-list ratio off their original list price. The minimum sold price was $150,000 and a maximum sold price of $5,100,000. The average seller subsidy paid was $3,425 and a maximum of $30,000. Seller subsidies are typically further reduce the net proceeds paid to the seller by that amount and are usually paid at the time of closing.
With about 20 Chesapeake Bay waterfront homes in Anne Arundel County selling each month, there is about a nineteen and one half month inventory of homes for sale on Chesapeake Bay waterfront in Anne Arundel County Maryland. When inventory is less than six months, this is generally considered a “seller’s market”. When inventory is more than six months, this is generally considered a “buyer’s market”. Current conditions suggest that it is a “buyer’s market” for Chesapeake Bay waterfront homes.
Don’t waste any more time, click here to find your ideal Chesapeake Bay waterfront home.
The Chesapeake Bay
is the largest estuary in the United States. It’s more than just a place to live a waterfront lifestyle, the Chesapeake Bay is a livelihood for waterman, as well as, a playground for boaters, fishermen, and hunters alike. To learn more about what you can do to save the Bay, please visit the Chesapeake Bay Foundation
. Their mission is to save a national treasure – The Chesapeake Bay
Stephen Howell specializes in listing and selling Chesapeake Bay waterfront real estate, waterfront listings on Chesapeake Bay in Maryland, real estate on the Chesapeake Bay in Maryland, waterfront estates in Annapolis Maryland, waterfront estates on Chesapeake Bay in Maryland, luxury properties in Maryland, and waterfront real estate on Severn River, Back Creek, Spa Creek, South River and West River.
NOTICE: All data as of April 10, 2012. Information believed to be accurate, but should not be relied upon without verification, is made available “As Is” and subject to revision at any time without notice.