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Save your search and get new listings directly in your mailbox before everybody elseFebruary Vs January 2023
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 Potomac, MD residential properties, here’s what happened in February Vs January 2023:
The number of sold listings decreased by 40% to 12 properties with a top sale of $3.4 million at 8801 Belmart Rd
The Average Sales Price Decreased by 38% to $962,000 and the Average Price Per Square Foot is $339.
The inventory of properties available for sale is measured in a monthly supply and it Increased 111%, to a 3.17-month worth of properties for sale.
The average 30-year fixed mortgage rate is at an average rate of 6.5% 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.
