Houses Are Still Selling Fast in Maryland

Dated: February 8 2024

Views: 1

Houses Are Still Selling Fast in Maryland

Have you been thinking about selling your house in Maryland? If so, here’s some good news. While the housing market isn't as frenzied as it was during the ‘unicorn’ years when houses were selling quicker than ever, they’re still selling faster than normal.

The graph below uses data from Realtor.com to tell the story of median days on the market for every January from 2017 all the way through the latest numbers available. For Realtor.com, days on the market means from the time a house is listed for sale until its closing date or the date it’s taken off the market. This metric can help give you an idea of just how quickly homes are selling compared to more normal years:

 

When you look at the most recent data (shown in green), it's clear homes are selling faster than they usually would (shown in blue). In fact, the only years when houses sold even faster than they are right now were the abnormal ‘unicorn’ years (shown in pink). According to Realtor.com:

“Homes spent 69 days on the market, which is three days shorter than last year and more than two weeks shorter than before the COVID-19 pandemic.”

What Does This Mean for You?

Homes are selling faster than the norm for this time of year – and your house may sell quickly too. That’s because more people are looking to buy now that mortgage rates have come down, but there still aren’t enough homes to go around. Mike Simonsen, Founder of Altos Researchsays:

“. . . 2024 is starting stronger than last year. And demand is increasing each week.”

Bottom Line

If you’re wondering if it’s a good time to sell your home in Maryland, the most recent data suggests it is. The housing market appears to be stronger than it usually is at this time of year. To get the latest updates on what’s happening in our local market, let’s connect. Robert McArtor with RE/MAX Components at 443-885-0875

Blog author image

Robert McArtor

First licensed in 1991 selling real estate. Robert is renowned among colleagues and clients alike for his integrity, loyalty and professionalism. He is currently ranked among the top 1% of agents in o....

Latest Blog Posts

Why Maryland's Housing Supply Is a Sweet Spot for Sellers

Why Maryland's Housing Supply Is a Sweet Spot for SellersWondering if it still makes sense to sell your house in Maryland right now? The short answer is, yes. And if you look at the current number

Read More

Expert Home Price Forecasts for 2024 Revised Up in Maryland

Expert Home Price Forecasts for 2024 Revised Up in MarylandOver the past few months in Baltimore, experts have revised their 2024 home price forecasts based on the latest data and market

Read More

It's Time To Prepare Your Baltimore Metro House for a Spring Listing

It’s Time To Prepare Your Baltimore Metro House for a Spring ListingIf you're thinking of selling your house this spring in Baltimore, Harford or Cecil County, now is the perfect;

Read More

Don't Let the Latest Home Price Headlines in Maryland Confuse You.

Don’t Let the Latest Home Price Headlines Confuse You in MarylandBased on what you’re hearing in the news about home prices in Maryland, you may be worried they’re falling.

Read More