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
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How’s the Market? March 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
Woodside Park Neighborhood Tour
Woodside Park is one of the oldest suburbs in the DC area and one of the most sought after in Silver Spring. It is located between Georgia Ave on the west, Spring St on the south, Colesville Rd on the east, and Dale Dr and Columbia Blvd on the north. As its name implies, Woodside… Continue reading Woodside Park Neighborhood Tour
This time is different?
Let’s go back in time. In 2008, people were worried about losing their home in a foreclosure. A lot of homes hit the market, but there were not enough people to purchase them, and prices fell. 2008 is different. The housing bubble was a big factor in the actual recession itself. That is not the… Continue reading This time is different?
Downtown Silver Spring Neighborhood Tour
Hi, I’m Hannah Clancy-Thompson. I live in Silver Spring and I would love to tell you more about why I chose this unique community to call home. Silver Spring is part of Montgomery County and is located right outside the DC line. I chose to live in Silver Spring because I wanted to be close… Continue reading Downtown Silver Spring Neighborhood Tour
How’s the market? Oct 2022
How’s the Market? Welcome back to my monthly series “How’s the market?” where we talk about the current state of the market in the DC metro area. These are the September 2022 stats. Let’s check in on interest rates In June we were seeing rates around 6%. Since then the Federal fund rate has gone… Continue reading How’s the market? Oct 2022
How’s the Market? Is it a buyer’s market now?
Welcome back to my monthly series – “How’s the Market?” This is the August 2022 edition which covers July 2022 data. OVERALL MARKET PREDICTIONS: Where are we going for the rest of 2022 into 2023 Overall, expect the housing market activity to continue to slow through the second half of 2022 and into early 2023… Continue reading How’s the Market? Is it a buyer’s market now?
Might I Mention the Maryland Market? May 2022
Maryland folks, this post is for you. And I hope you appreciated the alliteration in my title. Prices and Inventory The average sales price is up again. It is $484,283, up 11.4% ($434,847 in 2021). The median sales price is also up, $405,000, up 9.5% ($370,000 in 2021). In addition to these higher prices, inventory… Continue reading Might I Mention the Maryland Market? May 2022
Preferred Service Providers
These are my preferred service providers who I have worked with on a variety of levels. Many of them have worked on my personal homes. And I have recommended them to various friends and clients over the years. I hope they are helpful to you. Architects and Design Structural Engineering Appliance Repair Appraiser Asbestos Boston… Continue reading Preferred Service Providers
How’s the market?
Looking back at April 2022 data and results. Here are some quick snap shots: DemandThe Bright MLS T3 Home Demand Index rose to 126 (Moderate demand) since last month. Demand rose for all types of homes, except lower-priced single-family, with the greatest increase in buyer interest in higher-price single-family homes. Inventory conditions changed little over… Continue reading How’s the market?