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 Bethesda Residential Properties. Here’s what happened in October of 22 versus October of 21, the number of sold properties decreased 45% to 46 properties with a top sale of 3.35 million in Millwood Road in Bethesda. The average sales price increased 15% to 1.3 in the average price per square foot. Decrease to $435. Inventory of the properties available for sale measured in months. Applied increase, 146%. Going to two months worth of properties for sale. The average 30 year fixed mortgage increase to an average rate of 6.9 according to Freddiemac.com, the market continues to show signs of slow. and big jump in inventory. This indicates a clear shift in the market presents an opportunity for buyers heading into the latter part of this year. If you think about buying or selling residential real estate now or in the near future, it is important to seek a guidance of a vice of a professional real estate agents. Thanks for tuning in. We’ll see you soon. The Stillwell Group Market Update.