Home prices up compared to July 2017
The data is in for July 2018 showing a decline in inventory and the median home price. The numbers, provided by the Maryland Association of REALTORS, also show an uptick in pending sales as well as the average home price. Buyers are continuing to be faced with a lack of inventory and raising prices, both locally and nationally.
“Average residential home sale prices have risen for the sixth month in a row,” said Maryland REALTORS President Boyd Campbell. “We also saw an increase in units sold compared to 2017, while active inventory continues to trend down, off another 12.5 percent compared to the same time last year,” added Campbell.
The Maryland Association of REALTORS or MAR, is the state’s largest professional trade association serving over 25,000. The association and its members are dedicated to preserving the vitality of the Maryland real estate market.
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