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January 2022 Monthly Market Update

Three Misconceptions About The Current Market

Interest Rates

Rates are slowly climbing. We’re out of the twos, but we’re barely into the threes, which means that buyers still have purchase power and it gives you some leeway with that list price.

Average List Price

This second, and really big thing is everybody’s buzzing about the average list price and how it’s going down. Reality is that the median list price in the Baltimore area has only shifted $1,500 in the last couple of months, which means if we’re talking about a $300,000 house or a $500,000 house, $1,500 is nothing to worry about.

Inventory

Everybody’s talking about how there’s so much more inventory. There’s not. If we take a look at the MLS statistics last month, there was less inventory on the market than in previous months, which makes this the perfect month to get your house on the market and have all the buyers give the attention that it deserves.

If you have any questions about the monthly market update or just the market in general reach out to us anytime by phone or email.

John Newman

Founder & CEO of The Newman Group

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