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Welcome to The Stillwell Group Market Update, I’m Lee Stillwell.
If you’re thinking about buying or selling residential real estate, it’s important to understand the current market trends.
According to Bright MLS, the marketplace for North Bethesda, MD residential properties, here’s what happened in March Vs February 2023:
The number of sold listings Decreased 43% to 8 properties with a top sale of $1.8 million at 11112 Arroyo Dr.
The Average Sales Price Increased by 23% to $728,000 and the Average Price Per Square Foot is $330.
The inventory of properties available for sale is measured in a monthly supply and it Increased 100% to 1 month worth of properties for sale.
The 30-year fixed mortgage rate is at an average rate of 6.57% according to Freddiemac.com.
If you’re thinking about buying or selling residential real estate now or in the near future, it’s important to seek the guidance and advice of a professional real estate agent.
Thanks for tuning in, we’ll see you in the next Stillwell Group Market Update.
