May 20, 2024
Annapolis, US 72 F

Annapolis Is Booming – How Hard Is It To Find A Home?

With the economy resurgent, Annapolis has experienced a buoyant start to 2021. The Washington Post even highlighted the George Ave boat-makers, Chesapeake Light Craft, and their plans to hire extensively to cope with new demand. With greater footfall in the area and families looking to settle down in the bay, many families will be looking at the feasibility of setting down roots in the area.

Prices and options

Annapolis and the wider Anne Arundel county have historically held large property stocks that buck local trends in terms of price. There is value for money to be had – however, the housing price surge owing to low national stocks has led to increases, with the Baltimore Sun highlighting average prices as sitting above just $300,000, with just a nine-day market duration. There are options, however: the FHA loan and similar instruments are just as valid within Anne Arundel as elsewhere, and, according to various lenders, have lower interest rates than conventional loans and limits of up to $500,000 – more than enough to obtain a good property in Annapolis.

Housing availability

The housing stock is generally low due to a nationwide shortage. What is available, however, is of good quality. A highlight of current housing stock from a recent survey shows consistent listings of good quality family homes across the city. Even if prices are up, that means would-be homeowners will be able to find quality in the historic and new housing stock the city boasts.

Picking an area

Annapolis benefits from bridging the history of the first colonists and the cut and thrust of modern-day life in the USA. There’s a lot to offer. You have the mixed-use environment of Admiral Heights, versus the single-family homes of Heritage Harbor and the mash-up architecture of Homewood. Jobs are available in different industries throughout these neighborhoods, with the neighborhoods closer to Downtown and the USNA better connected. With the modern remote working culture, there is something to be found in all corners of the city – it may be a seller’s market, but that doesn’t mean buyers have lost all ability to be picky

Housing stocks are tight in Annapolis, just as they are across the country. Despite this, prices are staying sane against the national backdrop, and the city is crying out for more citizens – making it a good place to settle down. Browse neighborhoods to find one you vibe with, and get involved.

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