Be A Square, Know Anne Arundel County Home Values
The average home value in Maryland is $260,800.00, while Anne Arundel ‘s median home value sits significantly higher at $334,800.00. With some of the most expensive zip codes in the entire country, the lower half of the county boasts some particularly high home values. Meanwhile, the northern part of the county offers some nice areas with average home prices 10-20% below the state average. So if you’re in the Maryland market, there is a price point for every budget in Anne Arundel County.
Aside from median home price, real estate agents and the market as a whole use the price per square foot marker to get a better assessment of a home’s worth. Price per square foot as a figure by itself doesn’t offer much insight into a property, as it is just the home’s value divided by the square footage. The real information and insight comes in comparing the price per square foot to similar priced and similar sized homes in the surrounding area and neighborhood.
When comparing similarly sized and similarly priced homes in the area with price per square foot, you can see if the home’s value is accurate and it can be a negotiation point in real estate matters. If you are looking at a home valued at $175 per square foot and the neighborhood has an average of $145, the home in question could be over-priced unless there is some obvious reasons for the difference, such as upgraded amenities or a larger plot of land.
Since Anne Arundel County varies so much in its real estate markets, I’ve broken it up into North, South, East and West to provide you with a little more information.
South Anne Arundel County
Key Areas: Edgewater, Lothian, Davidsonville
Average Home Price: $400,300.00
Price Per Square Foot: $273.00
Accounting for the entire bottom half of the county, south AACO is known for more rural areas and quiet neighborhoods with high value homes. Traveling on its quiet back roads, one might daydream about the midwest, but travel to the east and you’ll encounter an abundance of waterfront properties. Living hear means a lot of driving along tree or corn lined roads with glimpses of wide open spaces. The southern half of Anne Arundel County is not nearly as developed as the north, which means this part of the county is more quiet and serene. There are a lot of affluent neighborhoods which, as you can see, result in a higher average home price.
West Anne Arundel County
Key Areas: Crofton, Odenton, Fort Meade
Average Home Price: $295,900.00
Price Per Square Foot: $201.00
The West is comprised of a border with Prince George’s County on its western side and an eastern border with Route 97 in the middle of the county. Crofton is in the south part of this region while Fort Meade sits on its north side. A mixture of suburban neighborhoods and some slightly rural areas make up this region, which has experienced a lot of growth in the last 30 years. What used to be a quiet corner of Anne Arundel County has quickly become a bustling sector. Located conveniently near Fort George G. Meade and NSA inhabitants live in close proximity to the thriving government sector job market.
East Anne Arundel County
Key Areas: Severna Park, Pasadena, Annapolis
Average Home Price: $339,300.00
Price Per Square Foot: $214.00
The Eastern region borders route 97 on the left and the Chesapeake Bay on the right. This part of Anne Arundel County is considered by some to be the heart of Maryland living. The Eastern section offers its citizens waterfront and water accessible properties in almost every budget range, but as we know, waterfront property is never cheap. With Annapolis in the south and Pasadena in the north, Bay and river living is the name of the game in this part of the county. Only a small percentage of citizens actually live on the water, but a much bigger group enjoys living the Chesapeake Bay lifestyle. If you enjoy boating, crabbing or rock-fishing, this might be the place for you.
Northern Anne Arundel County
Key Areas: Glen Burnie, Linthicum, Ferndale
Average Home Price: $250,700.00
Price Per Square Foot: $178.00
The Northern part of the county consists of Glen Burnie on the bottom and a border with Baltimore City and County on the north side. Northern Anne Arundel County is full of suburbs and built up areas. You have easy access to the state’s main interstates and in turn, the rest of the state. Also, living here you’re a 10 to 20 minute ride to Baltimore City’s Inner Harbor and the popular Horseshoe Casino. There are a variety of neighborhood styles in the northern section, ranging from brand new developments to city style row homes. This part of the county is considered a hot market for investors as there is a high renter population.
Covering each area in brief doesn’t quite do this county justice, but I hope the information I’ve provided gives you a good glimpse into what a diverse Anne Arundel County has to offer. Just as you can’t compare New York City to rural Kansas state, you can’t equate the North part of the county to the South part of the county, as each section has distinct character, features and value.
What may attract you to a certain part, could be the same thing that turns another person away. The important thing is understanding the price per square foot value of your home, or home of interest and applying that information to make wise purchase and/or sale decisions.
As always, if you have any additional question about the county or real estate in general, please feel free to contact me directly. I can be reached at (443) 618-5917.
All my best!