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Fort Meade MD Real Estate Market Update

By
Real Estate Agent with The Roskelly Team MD DLLR#574160



Have you been thinking about selling your house? If so, we've got some good news for you. While the housing market isn't as crazy at it was during the pandemic, homes are still selling faster than normal.  And, with inventory down, those quick sales are resulting is substantial increases in home values.

The graph below uses data from a leading real estate website to tell the story of the median days on the market for every January from 2017 all the way through the latest numbers available. Days on market starts counting the day the property is listed and ends when the property is marked under contract. This measurement gives you an idea of how quickly homes are selling compared to what is considered a "normal" real estate market.

While these are national statistics, homes in the Anne Arundel County real estate market are selling well below 30 days on the market.  

 

When you look at the most recent data (shown in green), it's clear homes are selling faster than they usually would (shown in blue). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (shown in pink).  to Realtor.com:

What Does This Mean for You?

Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Researchsays:

“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”

What Does This Mean for You?

Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Researchsays:

“. . . 2024 is starting stronger than last year. And demand is increasing each week.”

Bottom Line

If you’re wondering if it’s a good time to sell your home, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in our local market, let’s connect.

 

Posted by

Jessica Hood, Realtor/Team Leader
Accredited Home Staging Professional
The Fort Meade Homes Team
Berkshire Hathaway HomeServices
565 Benfield Road 
Severna Park, MD 21146

(410) 721-6694 Office
(443) 623-4523 Mobile

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Search all homes for sale near Fort Meade, homes for rent near Fort Meade, or get information on selling your home at www.FortMeadeHomes.com
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John Pusa
Glendale, CA

Hello Jessica Hood, REALTOR® very valuable detailed real estate market report for Fort Meade, MD.

 

Feb 24, 2024 09:00 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Jessica Hood, REALTOR® Thank you for taking the time to share this report!  This is great stuff for buyers and sellers alike! 

Mar 01, 2024 08:54 AM