The face of Annapolis continues to change. Some people embrace the change. Some grumble about it. But, the changes to our roads, shopping, new businesses, jobs, and new housing are the driving reasons that our housing market continues to see improvements.
Annapolis is still a small town in many ways. No, we don’t have the Blue Law on Sundays anymore. But, this little town of historic homes, cobblestones and surrounding communities is seeing changes that will impact all of us.
As Annapolis becomes a metropolitan city, it ranks on lists of “top places to live” and “best cities.” It is attracting the attention of people looking for a community with a good quality of life, cultural arts, good jobs and housing. It has attracted new employers, retailers and restaurant chains Why? Annapolis and Anne Arundel County deliver the promise of high quality of life, consistently low unemployment, well-educated workers, abundance of jobs, and more favorable cost of living compared to other national cities.
Reported at 6.4 percent last month[1], Anne Arundel County continued to be under the national unemployment rate of 9.0 percent. Due to the expected growth in our area over the next decade, predictions are that we will actually have a shortage of housing.
New construction projects in Annapolis continue. Builders are still building. And, homes are selling. Currently, there are fifty-two new construction properties listed for sale in Annapolis totaling more than $52 million dollars. Eight new construction properties have sold within the past sixty days for a total of more than $5 million dollars. And, there are several new communities in the planning and zoning committee awaiting approval. We will see a lot more growth as our city tries to meet the demand of the incoming work force, retiring generations and family expansions.
A seller recently complained to me that Annapolis had changed too much and that there was too much traffic. She wanted to move to someplace “quieter like it used to be around here.” Ironically, her Annapolis home had more than doubled since she purchased--much higher than the national average of home appreciation. I reminded her that the changes in Annapolis had actually helped her retire with more money in her purse. She laughed and agreed.
Some change can be good.
[1] Bureau of Labor & Statistics
