At Home With Lisa-September 2022 Market Statistics

          I have had many individuals ask me what is the difference between the Sellers Market and the Buyers Market?  So I will share the difference and reference this blog for reminders.  This is the link to the blog I posted one year ago about this same subject

Demand in real estate is commonly judged by months of inventory based on closed sales.

Sellers Market =Less than 3 months of Inventory (Demand exceeds Supply)
Buyers Market= 6 or more months of inventory (Supply exceeds Demand)
Neutral Market= 3-6 months of Inventory.  This is when the interest rates are affordable and the number of buyers and sellers in the marketplace are equalized.

So, with that said, let's take a look at Septembers Market statistics for Anne Arundel County and Queen Anne County.  The numbers I supply are comparing Septembers numbers with August numbers.

Anne Arundel County

New Listings:  Down 9.4% (since August 2022)
New Pendings: Down 26.2% 
Closed Sales:  Down 21.0%
Median Sold Price:  Down 1%
Avg Days on Market: 20  (up from August which was 15)
Months of Inventory: 1.0

So based on the information above, Anne Arundel County is still in a Sellers Market.

Queen Annes County

New Listings:  Up 13.8% (from August 2022)

New Pendings:  Down 15.6%
Closed Sales:  Down 33.3%
Median Sold Price:  Down 5.2%
Avg Days on Market:  33 (up from August which was 23)
Months Of Inventory:  1.9

Again, Queen Annes County is also in a Sellers Market.

The next question I am hearing more often now is "Should I wait until after the holidays to try and sell my home?"  

I want to address this separately.  So look for this blog in the next coming days.

I'm Lisa Longest with Realty Navigator. I am a full time Realtor® GRI® RENE® CDPE® and PSA® in Anne Arundel and Queen Anne  Counties.  I am here for all your real estate needs. If you are looking to buy, sell or question me about the market in your area, feel free to contact me. I am located in Annapolis and Kent Island. My email is LisaLongest.RE@Gmail.com and cell is 443-786-4200.