Mid-Atlantic moving activity stabilizing

Relocating families in the nation's Mid-Atlantic region are snatching up homes at a quicker pace, according to a new report.

August figures showed that homes for sale in the region were spending 16.5 percent fewer days on the market than they were a year ago, reported RealEstate Business Intelligence. Homes for sale are staying on the market for an average 81 days, down from 97 days in August 2009.

Average sale prices also increased around the region by more than 3 percent overall on a year-to-year basis, said the report. In both the District of Columbia and Virginia, relocating families are selling their homes for an average 7 percent more than they were a year ago. Sales prices in Baltimore County also rose by an average of $15,000.

Recuperation in the Mid-Atlantic housing market is coming slowly, said RBI president Jonathan Hill. "New contracts increased while new listings declined from last month. These factors, combined with an increase in average sold price and a decrease in average days on market over the same period last year, point to increased solidity in the housing market."

More military families may need to contact moving companies in the near future to help with their relocations to the Mid-Atlantic. Thousands of military workers are moving into Maryland and surrounding states as part of the military's nationwide Base Relocation and Closure Process.
 

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