Avenel MD Homes For Sale May/June Market Update

Any time I report on Avenel MD homes, using graphs like these, in broad terms for my blog, I am merely using the larger Potomac market as a barometer, and drawing conclusions from that area, and inferring that the same is true for Avenel.  For specific homes, or individual clients, who want more detailed info on their neighborhood, or their chances of selling their own home quickly, I can prepare more detailed reports, but for a most purposes, these larger area graphs seem to work out pretty well.

Avenel MD Homes For Sale Prices

In this first graph, I am looking at the asking prices of Avenel MD homes for sale, single family properties that are currently on the market looking for a buyer.  Again, assuming that Avenel pretty closely tracks the overall Potomac market of which it is a part, we see that one year ago, the median asking price was $1.3 million.  While there has been a fair amount of movement in the tracking over the past 12 months, with max numbers topping out at $1,600,000, our latest measurement is almost exactly where we started last year, $1,300,000.

Some people will be upset to learn that there hasn’t been a large uptick in values this past year, while many others will simply be glad that the market isn’t moving backwards.  I count myself in the second category.

Avenel MD Homes For Sale Inventory Levels

One of the statistics that I find most fascinating, is that even while the asking prices seem to be holding stead, overall, for Avenel MD homes, the amount of inventory seems to be climbing pretty steadily, and aggressively too!  In just the past three months or so, we have seen the number of available homes go from about 190 or 200 all the way up to this week’s level of 275, a massive increase!

This is the combination of statistics that gives me hope, if I were a seller in Avenel, or the Potomac market.  The number of homes for sale has increased almost 40% in just three months, and yet prices haven’t been hammered, as you would normally expect when the supply levels rise this dramatically.  This suggests to me that demand for homes has increased, and that perhaps more buyers are entering the market.

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