Maryland Real Estate Market Update - December 2022

Real Estate Agent with Hollish Hill Group, JPAR Stellar Living

Curious about the real estate Market? 

Since I'm getting tons of questions about it, I think you are! The deluge of news about interest rates and recession have made many buyers take a pause. Let's take a look at what's been happening in Maryland in the month of December.

When you look at December 2022 compared to December 2021, you'll notice that the number of homes that sold is down by 41.9% which is a significant difference. The average sales price is about the same as a year ago increasing by only 0.2%.

It appears that the number of homes under contract, the number of active listings, and the number of new listings are all down which means that we will likely see closings down in the next month or two. In addition, the median days on market has increased from 10 to 16, so homes are taking longer to sell. 

The good news is that mortgage interest rates have come down a bit this month and housing prices have been holding, even as we see ourselves in a more balanced market. And though we're not at a full Buyer's Market yet, buyers are winning offers with contingencies, including home inspections. 

The market in individual neighborhoods varies, so if you'd like to see stats in DC, Northern Virginia, or your neighborhood, text or call me at 202.271.5301.


Posted by


Dana Hollish Hill
REALTOR * Broker * Coach 
JPAR Stellar Living
800 S Frederick Ave, Suite 200, Gaithersburg, MD 20877
office 301.944.9070  
cell  202.271.5301

Comments (1)

Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thanks for sharing your market update with us. Buyers & sellers in your area would benefit from your services. Have a great day!


Jan 25, 2023 10:51 AM