September 11, 2018 | Bob Myers
Annapolis, MD, (September 10, 2018) 

August residential home prices rose for a seventh month compared to the same period of 2017, according to Maryland REALTORS┬«.   Average home prices rose by 5.3 percent, while median prices also rose  in August by 4.2 percent as compared to the same time in 2017.
 
"Average residential home sale prices have risen for the seventh month in a row," said Maryland REALTORS┬« President  Boyd Campbell. "We also saw an increase in median price compared to  2017, while active inventory continues to trend down, off by 9 percent compared to the same time last year," added Campbell.  "The  2.8 months of available inventory is impacting everyone's ability to buy  or sell.  We expect to see another increase in interest rates at least  once, if not twice before the years' end."

With interest rates still at historically low levels, now is the best time to buy or sell.

Reported by MRIS.
 
NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT.

*Months  of inventory based on current active inventory and monthly sales for  the corresponding month; Data are revised on a regular basis. Readers of  these reports should note that older reports have not been adjusted to  reflect these revised data. This report, however, contains the latest  reliable data to date.

Please consider The Myers Team your resource for all things real estate.  We have over 30 years of real estate experience, specializing in the Montgomery County area.  If you are refinancing, want a recommendation, need a service provider or just have a home related question, please give me a call at 301-910-9910 or email me at bobmyersteam@gmail.com.
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