Past 7 Days in SoMD (Calvert, Charles, and St. Mary’s)

• 69 Coming Soon

• 149 New Active (continuing to trend upwards)

• 63 Price Decreases

• 72 A/C

• 120 Closed

• 45 Expired

Past 30 days in SoMD

• Median List Price: $475,000

• Median SOLD Price: $435,500 (still a big gap between list price and sold price!)

• Average DOM: 46 (10 lower than last month)

• End of Month Inventory: 1124 units (about 100 more than last month)

My thoughts and conclusions for the moment:

• The gap between median list price and sold price remains high, showing that many sellers are ultimately accepting contracts significantly lower than their initial asking price. 

• To market properties strategically, sellers should consider listing at the lower end of their recommended range to increase showing traffic and limit their days on market.

• Buyers should regard initial listing prices critically, and take a hard look at the days on market for comparable properties in the area; if a property has been listed for 3 weeks without a price change, it is likely that the sellers are already considering lowering the price.