Happy Fall! Now that we are entering our Fall market, let’s close out Summer 2023. The quick take: Our market has remained resilient. Our housing market demand remains strong and prices continue to rise. While home prices have fallen in some U.S. markets, prices have been consistently rising throughout our area and were up 3.9%… Continue reading How’s the Market? August 2023
It is hot right now! One way to “break the heat” is to make your home more energy efficient (I’m sorry, I had to). Here are some available rebates: Source for these images: Capital Area Realtor Magazine, Summer 2023.
The market stats look depressing at first view, especially given the titles of articles in the media right now. But the story is more nuanced than the way it is being presented. A general update June 2023 was better than June 2020 at the beginning of the pandemic. Markets in general are down 20% compared… Continue reading How’s the Market? July 2023
It is still a seller’s market with all that entails. Consumers are continuing to tour homes. Showing activity in the Mid-Atlantic has continued to track near 2019 levels despite the lack of inventory on the market. Buyers are motivated, but they need homes to purchase. Inventory The market has continued in much the same way… Continue reading How’s the Market? June 2023
Not much has changed since last month. The amount of new listings continues to lag. New listings are down 22.6% in the Mid-Atlantic compared to the same time last year. Our area is down 40-50%. The number of showings on listings is still similar to 2019 levels. Given that inventory is so low, we are… Continue reading How’s the Market? May 2023
Let’s start with a general description of the market. The Bright MLS T3 Home Demand Index is 83 or Slow. Buyers are restricted to significantly fewer listings on the market than they saw prior to the pandemic housing frenzy. Demand is strongest for luxury single family home and luxury condos. Limited inventory and higher interest… Continue reading How’s the Market? April 2023
The Big Picture Housing demand is increasing in our area for all types of homes. Luxury homes and condos are increasing the most (condos above $570,000). The months of supply is around 2.4-5.5 months (single families at the low end and condos at the high end). But overall the market is fairly slow. The T3… Continue reading How’s the Market? March 2023
Glenview is a small established neighborhood of 2500 people in Silver Spring. It is north of Downtown Silver Spring, closer to Wheaton. The neighborhood boundaries are east of Georgia Ave, north of Dennis Ave, west of Sligo Creek Pkwy, and south of University Blvd. Sligo Middle School is off Dennis Ave and Sligo Creek Pkwy.… Continue reading Glenview Neighborhood
We have a rebounding market in our region. There has been a lot of change and buyers are beginning to come back out. Let’s take a look at what that means. According to Yolanda Muckle, 2023 President, Maryland REALTORS®, January’s numbers may indicate a market that’s getting used to current conditions. Last November, the 30-year… Continue reading How’s the Market? February 2023
What can you expect to see in 2023? Well we don’t have a crystal ball, but let me gather together some of the important facts and trends so that you know what to expect in 2023. How Does the Economy Look? The US GDP is up, unemployment is down (down to 3% or pre-pandemic level),… Continue reading Housing Outlook 2023 – What can you expect?