Annapolis house sells for $4.7M, house sales continue yearly growth

A six-bedroom house that sold for $4.7 million in Annapolis in September topped another month of year-over-year growth for real estate sales in Anne Arundel County.

The house at 1234 Cherry Tree Lane was officially sold Oct. 6, according to the ShowingTime RBI research firm. At $4.708 million, it is the most expensive house sold in the county this year.

As for the county’s overall market, sales continued to be strong with midrange houses. Buyers purchased 55 more houses in the $200,000 to $600,000 price range last month than they did during the same period last month.

The county is on track to have its second straight year of over 8,000 house sales, a figure that it couldn’t reach between 2006 and 2014.

Jim and Alison Francis' Home of the Week

Caption Jim and Alison Francis’ Home of the Week

Jim and Alison Francis’ Home of the Week in Pasadena.

Jim and Alison Francis’ Home of the Week in Pasadena.

Couple discusses sailing around the world

Caption Couple discusses sailing around the world

Captain Charlie and his wife Cathy Simon circumnavigated the globe aboard their boat Celebrate, which is now docked in Annapolis.

Captain Charlie and his wife Cathy Simon circumnavigated the globe aboard their boat Celebrate, which is now docked in Annapolis.

Michelle Guillermin's Home of the Week

Caption Michelle Guillermin’s Home of the Week

Michelle Guillermin’s Home of the Week in Dunkirk.

Michelle Guillermin’s Home of the Week in Dunkirk.

John Bickell and Annabel Lobe's Home of the Week

Caption John Bickell and Annabel Lobe’s Home of the Week

John Bickell and Annabell Lobe’s Home of the Week in Hillsmere.

John Bickell and Annabell Lobe’s Home of the Week in Hillsmere.

She also said the house was originally priced too high in its earlier listings, which may have initially driven down interest.

“Appropriately priced homes will still sell in luxury markets,” she said. “It all goes back to pricing … there is some movement over $1 million for appropriate priced properties. When you go over $3 million, it’s a different ball game.”

Decaro said the sale essentially came down to “a war between two people,” with a buyer from northern Virginia winning. While the sale officially closed on Oct. 6, as part of a noncontingent, cash-only sale, Maryland property tax records have yet to be updated with the name of the owner and Decaro would not name the individual.

While the house underwent renovations since its sale in 2014, Decaro said it was an older house “that was done over stages from the (19)40s all the way to the (19)90s.”

“Most would agree that the value was in the land and in the water,” Decaro said. “But I think you’re going to see more and more of this. Higher end (houses need) a more aggressive approach.”


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