We made it through our back to school lull in the Fort Meade MD real estate market which had set us back with sales. Now that everyone is settled in, we saw a 5% bump in new contracts compared to last year which was also fueled by the reduction in interest rates with promise of more coming soon. I think homebuyers know now that we are not going to see 2% and 3% interest rates like we did during the pandemic and the market is working towards it's new norm.
Inventory is higher than normal with a 20% increase in new listings which leaves room for inventory to grow, again. This bodes well for homebuyers, as sellers will be vying for those that came back into the market.
Expect to see Seller concessions slipping back in, as their stronghold on the market is relaxing. Prices are still increasing and will offset any concessions that are needed to secure a buyer.
If you're thinking of buying a home, come search all homes for sale near Fort Meade MD with us and let the experts at The Roskelly Team guide you through your home purchase. We'll make sure you have the best financing, property, and contract conditions. EHO
