May 2012 Real Estate Market data has been released and the numbers are impressive! The National Association of Realtors reported that home prices are continuing to rise across the Nation and total existing home sales are up compared to 2011.
As you will see from the data below, the local market inventory is approximately 32% below previous year levels, and the median sales price has increased about 5.7% year-over-year. In addition average days on market has decreased by 10% which means homes are selling faster – making it an ideal time for sellers to list their home. If you’re interested in listing your home, contact The Creig Northrop Team of Long & Foster Real Estate for a free no-obligation market analysis.
Below is the Maryland Real Estate Market summary broken down county-by-county:
Are you ready to find your next home or do you have a home to sell?? Start the process now!
Contact The Creig Northrop Team of Long & Foster Real Estate today to find listings that meet your home search criteria or to set an appointment for a FREE, no-obligation market analysis.
We look forward to hearing from you!