Fewer Homes on the Market Means Higher Prices

By
Real Estate Agent with Century 21, The Real Estate Centre, 410-665-0200 Office 634480

Fewer Homes on the Market Means Higher Prices

 

The number of homes on the market has continued to decrease.

 

With fewer homes from which to choose, Buyers bid up the prices of the existing homes.

 

In other words, it is a Seller's market.

 

Comparing March of 2017 to March of 2018 in the Maryland Real Estate Market, shows that the number of available homes decreased by 5.3%, the average sold price increased by 5.9%, and the median sold price increased by 5.4%.

 

This is a trend which has been taking place for close to 2 years now.

 

If you would like to list your house, I would be glad to help.

 

Waiting until next year, may put you into a different market, because mortgage interest rates are climbing, which will put a downward stressor on home values, since Buyers will not be able to afford as much.

 

Feel free to call me at 410-935-5844 for more details.

 

Ron Trzcinski

Century 21, The Real Estate Centre

410-935-5844 Direct

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Topic:
Real Estate Market Trends
Location:
Maryland Baltimore County Nottingham
Groups:
Zenith Realty
Tags:
sellers market

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Rainer
366,996
Kathryn Sparks
Zenith Realty - Baltimore, MD

Ron,

It is amazing that this trend has gone for so long without exception.  Every month has seen a drop in inventory from the same month a year ago.

Apr 26, 2018 10:44 AM #1
Rainer
348,426
Karen Krzniak
Zenith Realty - Towson, MD

Ron,

If the stock market stays up, then interest rates probably will continue to go up.

Apr 26, 2018 10:46 AM #2
Rainmaker
1,288,168
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

This law of supply/demand appears to be the case in many different areas.

Apr 26, 2018 10:49 AM #3
Rainmaker
23,029
James Grant
Asheville, NC

Very True Ron, When there is a high demand for properties and a lack of supply of quality properties, the prices of houses tend to rise too.

 

Apr 26, 2018 11:15 AM #4
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Rainmaker
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Ron Trzcinski, 410-935-5844

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