Get the 411 on 21042 and 21043 Real Estate
Get the 411 on 21042 and 21043 Real Estate
You know that 21042 and 21043 are the two zip codes used for Ellicott City but do you know the difference in the price, sales and
current trends in Ellicott City Real Estate?
First, let’s make sure you know the difference in the areas they cover.
· 21042 zip code is for the western portion of Ellicott City that begins with the perpendicular Rt. 29 and then extends to the west.
· 21043 zip code is for the eastern portion of EC that begins with the same Rt. 29 and extends to the east.
The most recent RE stats available, exist for April 2014 and here is the difference in the recent sales and inventory.
21042 sales in volume are DOWN by 25% however the average sale price is UP 22%. This reduction in volume is due to the reduction of the number of units sold this year (30) as compared to last year at 49 (which is down 39%). This could be due to the long winter (delayed spring market) and/or the lack of inventory on the market for sale. However, currently, the inventory is up 13% from last year at this time. Approximately 76% of the homes sold in 42 are sold with Conventional Financing with 16% Cash and 6% FHA. Of note, the average sale price for a home in 20142 for April ‘14 is $655,734 up from $538,707 in April of ’13. For April, 28 of the 30 homes sold were single family homes and 2 were condos or co-ops. Of note, no townhomes were sold in April.
21043 sales in volume and average sold price is UP about 19% from last April. Interesting to note, the number of units sold (35) is the same for this year as last but the average sold price is $439,110 for April ’14 as compared to April ’13 at $369,037. The current inventory is up by 14% this year. Financing breakdown for 21043 is as follows; 77% Conv., 11% Cash, and 6% for both FHA and VA. Of the 35 homes sold, 18 were single family, 8 were townhomes and 9 condos or co-ops.
It should be noted, I used the figures from the Metropolitan Regional Information System that provides us our local Multiple Listing Service. If you would like a copy of the full report, let me know.