Is the market active? You be the judge.
We all have heard stories/reports on how the real estate market is doing. We read them in print; view them on the web, hear them on the radio, listen to them on podcasts, and watch them on the TV. Most of these reports are on either the National, State, or County levels. I believe real estate conditions are most relevant at the local level.
These other reports cover both a wide area (National, Region, State, or County) and several property types (detached, townhouses, unit-flats). Here is my view for detached homes in the Mount Airy, Monrovia, New Market, and Ijamsville Md. zip codes, not including new construction.
As of May 28, 2023 there are 38 such homes currently on the market for sale, 16 (42 percent) of which were added just this last week. There are 90 detached homes under some form of contract, 13 (14 percent) of which went under contract in the last week. In the last 30 days, 49 detached homes successfully completed the sales process, 15 (31 percent) completed the process just last week.
There are an additional 17 detached homes listed in the MLS with a status of coming soon, 8 (47 percent) of them added to that count this week.
The median days on market for those with a status of active is 14 days. For those under the median days it is seven days. Those that successfully completed the sales process in the last 30 days did so with the median days on market being six days.
Yes, I my opinion with 16 homes coming to the market and 13 going under contract within the last week; the market is moving.
Please reach out to me if you want more details on detached homes or townhouses in this area.
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