Real Estate markets are always about supply and demand. Rising inventory means there are more homes for buyers to choose from so they can more easily demand the price they want. Declining inventory means buyers have fewer choices and sellers can be more demanding on the price they will accept. The state of the economy over the past few years drove prices down sharply and buyers were like kids in a candy store and sellers had to practically jump up and down waving and screaming for someone to buy their home. The tables have turned and inventory has declined an increasing number of homes are receiving multiple offers.
Sales prices on homes sold in Upper Marlboro (20774) have
seen a steady gain in the past year and it is highly likely we will continue to
see this trend over the next few months. If you have been thinking about buying
a home in Upper Marlboro you can still find deals but you need to act quickly
because the best homes are selling fast! Having a good agent to guide you
through this process is essential to helping you find the best deal.
When hiring an agent to help you buy or sell a home you need
to look for someone who knows and studies the current market trends, who is
knowledgeable and has strong negotiation skills. There are many Upper Marlboro real estate
agents but not every agent is the same and choosing the wrong one could cost
you thousands of dollars.
20774
Real Estate Market Snapshot
Inventory
The number of homes for sale in Upper Marlboro increased
4.8% last month and dropped 32.2% since June 2012.
Median Sold Price
Prices of homes sold remained steady this month with the
median sales price at $250,000 for both May and June. Since June 2012 we have seen a 41.8% increase
in price.
Average Days on
Market
The average number of days active listings were on the market was 45. This is a 10% decline in days since May and a 40% decline since June 2012. Of the homes sold last month 32.3% were sold in less than 10 days!
List Price vs. Sold Price
Homes were sold at 99% of list price in June. This means homes are being sold almost at
asking price! 
To find out what your Upper Marlboro home is worth visit my website to request a FREE Market Analysis of your home. You can also sign up for monthly Market Insider Report to view information on market activity in your area, community and school information and more!
