Is the Maryland real estate market improving or declining? Are we in a Buyer's Market? Are we in a Seller's Market? Every day we hear news reports and read articles about the current housing market. many of them talk in broad terms about the national trends ... or even based on information that doesn't apply to those of us who live in Maryland. I did some research based on the current data available in our Multiple Listing Service (MLS) to see exactly how each of the jurisdictions where I work is performing. I've listed them below so that you can see the numbers for yourself.
Generally, the news still isn't great right now if you need to sell a home., but it has been improving over the past several months! Depending upon where you live, the market conditions are better or worse than the surrounding areas. The number of foreclosure homes and short sales (these are people who need to sell) are making it difficult for others who want to sell. On the other hand, if you're planning on buying a home, now is the best time in many, many years.
These statistics are as of January 1, 2013, and can help home buyers and home sellers make important decisions about what they should do.
Market is defined as having
Seller's Market occurs when the
As you can see from the statistics below, ALL of the Maryland Counties where I work are now back in the "seller's Market" category except for Calvert County. Click on the county link to see the trends for that county during the past two years.
I'll be happy to provide you with more detailed information (even down to a specific zip code or for a specific type of house). If additional research were done based on various price ranges of the homes, we would undoubtedly get some different numbers.
I will continue to update these statistics every month so that we can track the changes in our housing market.