Our May statistics show an interesting trend this month. We analyze each of the four counties illustrated above on a monthly basis. In May, Frederick County is the area with the highest performance in the DC metro area. Fredericks’ numbers outpaced the rest of the counties, thus the market is considered a “hot market quote”. Reviewing the statistics, homes in Frederick are selling at an average of two weeks with only a 1.6 month supply. This indicates that we are still in a seller’s market. Most homes that are priced properly and in good condition tend to sell very quickly with multiple offers.
Similarly, Montgomery County homes are also at a similar pace selling about every two weeks and selling at a rate of 1.4 month supply. Our last three sales have had prices that exceeded the list price by anywhere from $50,000 – $85,000. Quite frankly that is an impressive result, following closely behind Prince George’s County and the District of Columbia selling their homes in about a month’s time frame. This also indicates both of these markets are still in a seller’s market. If you’re wondering if interest rates are affecting the market, the results shown above indicate that interest rates are having no bearing on whether people are interested in buying homes and whether or not they’re willing to pay more for the home than it’s listed for.
If you’re thinking about selling a home in the next 3 to 6 months, please get in touch with us so we can guide you and achieve outstanding and ambitious results for you just the same.
Alex Saenger and the Saenger Group are Top 1% Maryland Real Estate Agents serving the Washington DC Metro area. We are licensed Realtors based in Rockville, MD at Keller Williams Capital Properties.
