If you’ve been trying to buy a home in recent months, you know that competition is stiff for existing home sales, with many listings receiving multiple offers. As a seller, you should know that sales have reached an all-time high. Although there has been a slight dip in prices, continued lack of inventory means that now remains a good time to sell.
The median number of days that homes spent on the market, according to the latest figures from Bright MLS. That’s down from a median of 14 days at the same point a year ago. Housing activity picked up midsummer last year, with the median number of days on the market dropping to single digits in the months since.
The number of new closed home sales hit a decade high in June.
Increase in average sales price in Maryland as of August 1.
Months of inventory. At this same time in 2020 it was 2.0.
Active inventory of homes in 2021. In 2020 that number was 14,585.