Curious about what is happening in the Maryland Real Estate Market?
Maryland REALTORS® has a monthly infographic that compared September 2022 to the market in September 2022. It is important to remember that interest rates are quite a bit higher this year than they were last year so we expect to see how the interest rates impact the real estate market in Maryland.
As you can see the market is reacting as many expected. The inventory has dropped year over year and both the average and median prices have gone up year over year. Basic supply and demand.
We are also noticing few new listings so it looks like this will spill into next month. And the median days on market is 8 as compared to 11 last September so demand is still there and stronger than the supply.
If you are curious about the real estate market on a more local area or for your neighborhood, feel free to give me a call and I'm happy to provide the market stats for you.
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