We are halfway through 2018 already and everybody wants to know how the real estate market is doing. Today I’m here to give you an update.
Our median sale price is up to $285,000, near an all-time high.
Inventory has declined for the 34th consecutive month.
If you’re a home seller, this means that it is a great time for you to put your home on the market. At the end of the day, if you have a good product from the market, it’s going to sell. If you price competitively based on your location and condition, you will succeed.
As far as your condition is concerned, high-quality photos and staging are key. If you use cell phone pictures or an amateur photographer, this is going to hurt you in the market.
Even though this declining inventory has continued, you need to make sure your home is prepared correctly.
Another important thing to note is that our median days on market is just 15 days. 15 days on the market is not bad at all, especially when the list price is nearly identical to the sales price in most cases.
There is a correction coming. We can’t predict exactly when, but history says our run of declining inventory will eventually come to an end. Getting an accurate home valuation from a professional, who can take all the things that make up your home’s value into account, is imperative if you’re looking to sell for top dollar.
If you have any questions about the Baltimore Metro market or about what is going on in your specific neighborhood, I’m always happy to answer them. Give me a call or send me an email today. I look forward to hearing from you soon.