3 Pieces of Good News for Charles County, MD Home Sales
Jonathan Benya, a real estate agent from Charles County, makes note of three very important pieces of news--good news for a change--about home sales in the county.
Charles County, Maryland home owners may finally have some good news!
Good News #1 - Active Listing Volume Has Fallen
There are less homes for sale in Charles County. A lot less. 12 months ago we had 991 homes on the market. Today that number is only 731, the lowest it's been in 5 years! Less homes for sake means less choices for buyers, but a better opportunity for sellers to be able to actually sell their home. If the inventory in Charles County, Maryland falls to around 600 homes active on the market we should start to see sales prices start to climb again!
Good News #2 - Pending Contracts Are Up
The number of properties currently under contract has gone up, to a total of 169 homes in Charles County. That's an increase of 6.3% in pending home sales from a year ago! The best part about this news is that it happened without a huge government incentive program to entice people to buy a home. Buyers in Charles County are finally starting to see the value in home ownership again, and super-low interest rates have certainly helped get people off the fence.
Good News #3 - Average Days on Market (DOM) is Falling
Average days on market (DOM) is the measurement of how many days, on average, a home is on the market before it goes under contract. In a "normal" market, that time frame is usually around 90-100 days. DOM in Charles County, Maryland, has been as high as 154 days at the worst of the market crash, but we're seeing that number trend lower in recent months. It's a great indicator that the market is finally heading in the right direction!
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