July Upper Marlboro (20774) Market Report
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. 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 declined by 3.6% last month and 27.9% since July 2012.
Median Sold Price
Prices of homes sold declined 9.6% this month with the median sales price decreasing from $250,000 in June to $226,000 in July. Although the median sales price declined over the past month prices on homes sold in Upper Marlboro are up 27% since July 2012.
Average Days on Market
The average number of days active listings were on the market was 104. This is a 131% increase in days since June and a 79% increase since June 2012. Although the average number has increased over the past month, 31% of the homes sold in Upper Marlboro were sold in less than 10 days!
List Price vs. Sold Price
Homes were sold at 95.4% of list price in July. This means homes are being sold close to asking price!
Search Homes for sale in Upper MarlboroTo 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!
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