Now Is the Time to Capitalize on the Maryland Real Estate Market
The May 2023 Maryland REALTOR® Housing Statistics Report has just been released, and the numbers speak volumes. Now may be the perfect time for you to consider selling your home and making a move towards new horizons!
Main Ideas:
Despite Falling Sales, Prices Remain Resilient ? Home sales in Maryland experienced a 24.2% decline compared to last year. However, don't be disheartened! The average sales price has grown by 0.5%, reaching an impressive $486,112. Additionally, the median sales price increased by 1.5% to $411,000. These numbers indicate the resilience of the market, even amidst challenges. As a prospective seller, this means that you have an excellent opportunity to fetch a favorable price for your home.
Low Inventory Drives Price Stability and Increment ? One of the driving factors behind the stability and slight increase in prices is the continued lack of inventory. New listings have plummeted by 32.4%, while active inventory has seen its largest decline since the start of 2023, down by 21%. This scarcity of available homes is a golden opportunity for sellers, as it creates a competitive environment that can potentially drive prices higher. If you're considering selling, this is the moment to strike while the iron is hot!
Seize the Moment with Expert Guidance and Resources ? Navigating the current market may seem daunting, but fear not! As a seasoned real estate professional, I am here to assist you every step of the way. Whether you have questions about pricing, staging, or marketing your home, I have the knowledge and expertise to guide you through the process. Additionally, I encourage you to visit MarylandHomeownership.com, a comprehensive housing information portal that offers the latest updates, lists of reputable lenders, and valuable resources. It's your key to success in this competitive market.
Empower Yourself with Information and Webinars ? Education is essential when it comes to making informed decisions about homeownership. MarylandHomeownership.com provides you with two invaluable toolkits—one for buyers and one for sellers. These toolkits offer vital checklists to ensure you're on the right track towards achieving your goals. Moreover, you can sign up for monthly webinars featuring esteemed housing and lending experts from Maryland REALTORS®, the Maryland Department of Housing and Community Development, and Freddie Mac. By staying informed, you'll be equipped with the knowledge needed to make confident choices.
Conclusion: The Maryland real estate market may be challenging, but it's also bursting with opportunities. Despite the decrease in home sales, prices have remained resilient, proving that this is an excellent time for prospective sellers to maximize their returns. With low inventory driving stability and potential price increments, you have a unique chance to sell your home at a favorable price point. Remember, I'm here to provide guidance, answer your questions, and ensure a smooth journey throughout the selling process. Reach out to me today, and let's embark on this exciting real estate adventure together!
If You have any questions, want to know what the current value of your home is, would like to book an appointment with me or are looking for some free real estate related educational reports; make sure to Check Out My Link tree
Search for your next dream home or find out the value of your current home on my website www.Realvolutionhomes.com
Dan McDevitt
President Realvolution Homes Group
Cummings & Company Realtors
Licensed In Maryland & Delaware
