You'll find a lot of chatter out there where numbers get twisted to make someone's point that ends up just confusing consumers.
Averages, New Contingents, New Pendings, Attached Units, List Price vs Sold Price, Percent of SP and OLP Ratios... etc, etc. . .
Let me tell you a secret, there are only two numbers you should pay attention to...
How many new listings come in? . .
and how many listings go out as "SOLDS" every single month?
As an example, If 1000 listings come into the market in one month and only 500 sells, there is a surplus of 500 homes that month.
That is considered a BUYER'S MARKET (There is a SURPLUS of 500 homes)
However, if 500 listings come into the market and 1000 are SOLD that same month That is considered a SELLER'S MARKET ( There's a DEFICIT of 500 homes)
Take a look for yourself to what is going on in Montgomery County MD Real Estate today below. . .
if you are considering buying or selling real estate and have the time to plan, being strategic is an intelligent move for you.
*Data Source: MRIS