Maryland 2019 Home Sales
2019 Maryland Real Estate Market Ends On A High Note
December saw the greatest year-over-year sales increase in 2019, according to housing statistics released by Maryland REALTORS®. Units sold rose by 12.6 percent and the average price increased by 5.4 percent compared to the same time in 2018.
"The average sales price increased from $331,681 to $349,629 and the median price increased from $287,000 to $300,000" said Maryland REALTORS® President John A. Harrison. "Months of inventory dropped to a low of 2.2 months, compared to 3.7 last year. December was an unusually busy month for settlements, defying the typical fall and early winter slowdown."
"Looking ahead to 2020, we anticipate that the healthy job market and low mortgage interest rates will continue to support favorable conditions for buyers, although rising prices and low inventory create persistent challenges," added Harrison. "A recent survey by the National Association of REALTORS® indicated that 74 percent of respondents feel that this is a good time to sell. We hope that bears out in Maryland to create buying opportunities, particularly for middle-income individuals and families."
The Voice for Real Estate in Prince George's County
PGCAR is the voice for REALTORS® in Prince George's County, Maryland. Representing more than 3,500 real estate professionals in the national capital area, PGCAR is an affiliate of the Maryland and National Association of REALTORS®. We are proud to serve our members and our community, and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful. We proudly work to promote and protect home ownership and private property rights.