Germantown MD | Inventory Challenges Continue!
As of April 2017, our local market report is as follows:
This report is for the Washington Metropolitan area that includes MD, DC and Northern VA
There are a total of 21,248 Listings
Last year in 2016 we had 23,669 listings
A 10.2% drop in new listings year to year.
To put this in perspective the 5-year average total listings is 35,612
There are a total of 16,311 Listings under Contract
Last year in 2016 we had 17,463 listings under contract
A 6.6% drop in new listings under contract year to year.
There were a total of 12,244 Closed Sales in the area
Last year in 2016 we had 11,662 closed sale
2.7%% more closed sales year to year.
Our median SOLD PRICE in the Washington Metro Area is $326,000
Our local inventory is currently lower than normal average
There are signs that our real estate market has slowed down a bit from last year.
Nevertheless, our local economy remains strong with no signs of slowing down
Now I want to talk about in a National Level
What is happening across the country: Inventory Challenges Continue!
- After a surge in March, existing home sales and new home sales slowed due to a drop in inventory available for sale in the start-up and trade-up categories.
- Median existing home prices surged for the 62nd straight month, up 6.0% over last year to $244,800.
- New home prices slowed as builders have started to turn their focus toward single family, smaller homes.
If you work with us, we promise to be in constant communication with you as our client.
We will keep you fully informed throughout the entire buying or selling process.
Our philosophy is that if you do not have an amazing experience working with us..we haven't done our job.
Our measuring stick for success is not the number of transactions we make, but the level of satisfaction coming from all our clients...after we serviced them.
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To reach us, please call 301-246-0001
or send us an email @ info@ReallyNiceHomes.com
Thinking of selling your home? Let Fernando take over the marketing of your property with our unique 99 STEPS system
www.99SOLD.com - Call or text 240-426-5754 for more information.