Location, Location, Location

The “REAL” in Real Estate

By Sandi Reed Burns,

Realtor, Climb Properties Real Estate

Happy spring, everyone! Let’s spring right into what’s going on in your area as of March 22, 2022, according to Bright MLS data.

Thurmont: 29 total listings—made up of land, leases, commercial, and residential. If we only look at residential sales, there are a total of nine and four of them are “coming soon.” (This excludes the new builds under construction, as they are not on the MLS).

Emmitsburg: 16 total listings—made up of land, leases, commercial, and residential. Again, if we only look at residential sales, there are four active listings and zero “coming soon.”

Rocky Ridge: 7 total multiple listings types.

It certainly doesn’t look like much of a “Spring Market,” does it? This low inventory remains to keep the prices higher and limits buyers’ options of available homes.

Here’s a snapshot from National Association of Realtors: “February 2022 brought 6.02 million in sales, a median sales price of $357,300, and 1.7 months of inventory. The median sales price is up 15% year-over-year, and inventory was down 0.3 months from February 2021.”

I’m going to spring right to the point. We need more inventory in order to balance out the market. So, if you’re thinking about selling, please contact your local Realtor® for advice, and thank you for being part of the solution.