Here's a round up of Anne Arundel County real estate for the month of February 2023. Active listings are about half of the 5 years average and new pending sales are down about the same amount. Closed sales remain on track with the 5 year average as available inventory is being gobbled up by buyer's who have adjusted to the interest rate increases that put us more in line with a "normal" market.
The key takeaway here is that, with real estate inventory at less than a 1 month's supply, sellers are still strongly in command of the market. That being said, we are seeing some seller closing costs allowances and a bit more flexible terms based on the perceived downturn in the market.
Here's a good comparison of the last twelve months.
And here's a great summary of the overall market. Average days on market had minimal change and the majority of homes are selling in 1 - 10 days. The sold dollar volume is down significantly due to low inventory. But pricing is holding pretty steady with a slight increase in attached housing values.
If you're thinking of selling your home in Anne Arundel County, The Roskelly Team would love to interview with you. You can start by requesting a free, no obligation value analysis online at www.FortMeadeHomes.com.
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