Curious about what's happening in real estate?
I know you are. Interest rates are up, and there are so many predictions in the media that it's difficult to know what is happening now. Believe me, it's not all doom and gloom.
Let's focus on Maryland for a moment.
As you can see, less units sold in October 2022 than in October 2021. Inventory has been very tight so that is not at all surprising. Both the average and median price increased this year over last year. Pending and Active listings are down as well. Again, not surprising. And the months of inventory is exactly the same as last year. That is partly because the days on market is slightly higher than than last year.
This trend looks as if it will continue because we are seeing fewer new listings this month than we did in October of 2021.
One thing I've noticed is that not all neighborhoods are seeing the same results. If you are interested in finding out what is happening in your neighborhood in Maryland, DC, or Northern Virginia, just give me a call at 202.271.5301.
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