The Eastport Real Estate Market Report: $750,000 and Up
February 15th, 2009 Categories: Buyers, Neighborhood Sales & Stats, Sellers
Funky, Eclectic, Upscale and Down, the Market for Well-Priced Eastport Properties in this Peninsular Neighborhood of Annapolis Looks Good
We’ve just listed a great home in Eastport on Boucher Ave (right), that will go active in the MLS in about a week. It’s just down the street from two others we sold about a year ago, in the million dollar range, so we know the neighborhood very well.
I think we met pretty much everyone who lives in this part of Eastport over the course of many open houses. Eastporters love to take Sunday walks and think nothing of dropping by an open house, if for no other reason than to exercise their curiosity muscles.
Fine with us: we love to get to know the neighbors at our listings. And these neighbors sometimes end up hiring us to sell their homes – which is precisely what happened in this case.
Here’s How the Eastport Market Stacks Up Right Now
Our new listing will be priced in the mid-$700’s, so let’s look at the market at that point – $750,000 – and upwards. Later in the week, we’ll look at the market south of $750,000.
Currently there are 20 active listings. On the high end is a 3 bedroom home on Lockwood Court fronting Spa Creek for $1,950,000…and on the low end is a 2- bedroom on Chester Ave for $775,000. The former has been on the market for 24 days, and judging by the photos, most of the value is in the land. The latter has been listed for 330 days.
Three listings are under contract: one on Bay Ridge Ave listed at $785,000, one on Springdale at $1,270,000 and a third on Horn Point Drive which started at $3,000,000 103 days ago and went under contract listed at $1,300,000. Heaven only knows what’s up with that one.
Four homes have sold in Eastport for more than $750,000 in the last 90 days. The most expensive – a new home on Fifth St - went for $1,300,000 and took 223 days to sell. Another new home at 306 State St. sold for $797,653 in 85 days.
Uniqueness Always Sells Well in Eastport
The Eastport market has not been immune to the softening of the local real estate market, but it has held up better than other neighborhoods. The reason is this: the uniqueness of the homes, and walking distance to town.
For many residents (and homebuyers) Eastport represents the Annapolis maritime culture at its best – and they wouldn’t live anywhere else. Eastporters cherish the very things others complain about – the small yards, closeness of properties, the funky mix of expensive homes and cheaper bungalows, often side by side.
Sign Up for Our Free Eastport Hot List
If you’re a potential Eastport homebuyer, seller or resident – or you’re simply interested in keeping an eye on the Eastport market - why not subscribe to our Eastport Hot List? Our hot list – from which the above data is taken – is a detailed market report that comes directly to your email inbox whenever a new listing comes to market, goes under contract, or sells.
To subscribe, simply email your name to me at kenhaedrich@gmail.com and tell me you’d like to be put on the Eastport Hot List.
And if There’s an Eastport Home You Need to Sell…or Would Like to Preview…
…just email or call me at 410-507-7222. We work extensively with buyers and sellers throughout the Annapolis area, many in Eastport. And we’d welcome the opportunity to work with you. You’ll like us: we’re consultative, not pushy. And we love our work.
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[...] week I posted market information for homes $750,000 and up in the Eastport, which you can find here. As you may know, Eastport is the peninsular neighborhood of Annapolis more-or-less circumscribed [...]