Residential home prices made slight gains in October compared to the same period of 2017, according to housing statistics released by Maryland REALTORS. Average home prices rose by .9 percent, while median prices also rose in October by .5 percent as compared to the same time in 2017.
“The average residential home and median sale prices both made slight gains in October”, said Maryland REALTORS President Merry Tobin.
“While the 3.8 months of available inventory is a negligible increase over the 3.5 months of inventory in 2017, this will to start dampen consumers enthusiasm impacting everyone’s ability to buy or sell,” continued Tobin. A 6 month to 6.5 month supply is considered to be a balanced market.
The October 2018 sales total…