The Mid-Atlantic housing market is thriving, with home prices setting new records! In June, the Bright MLS service area saw 21,703 closed sales — a 5.6% increase compared to last year, even with mortgage rates above 7%. This shows strong buyer confidence and demand, despite the challenges. Year-to-date sales are staying steady, just slightly ahead of 2024’s pace.

The median sold price in June hit a record-breaking $449,600, reflecting the continued desirability of both detached homes and townhomes. Condo prices dipped just below their recent peak but are still performing well.

While inventory is gradually increasing, new listings remain somewhat limited. A total of 23,697 properties were listed in June, staying steady with last year’s numbers, though down 6.1% from May. This creates a great opportunity for both buyers and sellers to act strategically in a market that’s showing real strength!

Curious about market trends in your neck of the woods?  Here are regional reports from our friends at Bright MLS…  https://www.brightmls.com/marketreports 

Please call us today with any questions for your Real Estate needs. We truly appreciate your trust and confidence in us!