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Save your search and get new listings directly in your mailbox before everybody elseJanuary 2023 Vs December 2022
Potomac, MD Real Estate Market Update
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 January 2023 Vs December 2022:
The number of sold listings Decreased 26% to 20 properties with a top sale of $4 million at 10711 Red Barn Ln
The Average Sales Price Increased 26% to $1.5 million and the Average Price Per Square Foot is $340.
The inventory of properties available for sale is measured in month supply and it Increased 113% to 1.50 month worth of properties for sale.
The end of the year 30-year fixed mortgage rate is at an average rate of 6.1% 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.
