Community Corner

Arbutus Real Estate Gathering Steam, But Prices Remain Down

To encourage area economic development, RE/MAX New Beginnings offering to list business vacancies to no cost to landlords

Although the sluggishly recovering real estate market is picking up steam, property prices in the Arbutus area remain down, Deborah SeBour of said in an overview of the local market at Thursday's monthly meeting of .

"Generally, it's a very good spring for realtors," she said. "Things are moving very quickly."

Residential properties are seeing multiple offers, with an average sale price of $170,073 for a single-family home and $133,858 for town homes, SeBour said.

Find out what's happening in Arbutuswith free, real-time updates from Patch.

A residential property is on the market for an average of 153 days, she said.

According to SeBour, the market for commercial property continues to decline, both in price and in average days on the market.

Find out what's happening in Arbutuswith free, real-time updates from Patch.

To encourage business development in the Arbutus area, SeBour said that RE/MAX New Beginnings will list and market business and residential vacancies at no cost to landlords.

If the realtor's marketing lands a tenant for a property, RE/MAX will receive a one-time commission of half of one month's rent, she said.

"The listing won't cost a landlord anything," SeBour.


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