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February Housing Stats for MD are in and looking strong. What's next?
The February 2020 housing stats for Maryland are in, and are looking really strong! There is no denying, we were (and still are at this point) in a seller's market. When the inventory levels (that is the months of active supply) drop well below 3, we consider it to be a market that clearly favors sellers, and brings with it busy days of showings, (very) few days on the market, multiple offer situations, and even escalation clauses. 
As you can see in the chart, the months of supply decreased to just 1.9 - and that is all of Maryland. Some areas/subdivisions have little to no active inventory! Compared to February 2019 the number of sales increased by almost 100 to 5,112, and the average sales price increased by almost 22K to $339,155.
What's next? There's no doubt that Covid-19 will have an impact on the housing market. How much of an impact, or for how long, depends on many factors: how well do we handle social distancing? How successful will we be in flattening the curve? What measures are being implemented to counteract/balance the market and developments? ... and so much more. Time will tell. Right now, Real Estate is still happening. Homes ... more

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