January 2023 Vs December 2022
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 Rockville, MD residential properties, here’s what happened in January 2023 Vs December 2022:
The number of sold listings Decreased 51% to 22 properties with a top sale of $1.5 million at 13528 Potomac Riding Ln
The Average Sales Price Decrease 8% to $582,000 and the Average Price Per Square Foot is $281.
The inventory of properties available for sale is measured in month supply and it Increased 61% to 1.36 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.