In real estate there are three pillars that dictate desirability of any given building: location, price and condition. In a normal market, if one of these is missing, a property may take some time to sell. In the last few years of abnormally low interest rates, the bar for these pillars was particularly low. The market has re-set, and is still re-setting, as shown by our April 2023 market statistics – while sales are down because sellers are holding on to their low interest rate mortgages, days on market are up because properties missing one or more pillar are not selling.
While prices and inventory are adjusting on a market by market basis, this trend of lower sales coupled with higher days on the market is pretty consistent across our region. Check out your local market in the table below. As always, if you don’t see your market, or want to discuss your specific real estate situation, contact me!
| Median Price | Change since last year % | Sales | Change since last year | Active Inventory | Change since last year | Days On Market | Change since last year | |
| Adams County PA | $ 265,000.00 | -7% | 75 | -31% | 131 | -20% | 31 | 11% |
| Alexandria VA | $ 622,500.00 | 3% | 186 | -35% | 180 | -25% | 19 | 111% |
| Arlington County VA | $ 680,000.00 | 5% | 215 | `-30 | 302 | -13% | 34 | 79% |
| Baltimore City MD | $ 211,000.00 | -5% | 696 | -33% | 1622 | -5% | 38 | 31% |
| Baltimore County MD | $ 350,000.00 | 8% | 691 | -30% | 806 | -9% | 22 | 38% |
| Berkeley County WV | $ 280,450.00 | -3% | 196 | -17% | 330 | 17% | 33 | 43% |
| Carroll County MD | $ 455,000.00 | 8% | 130 | -42% | 174 | 15% | 27 | 238% |
| Clarke County VA | $ 603,595.00 | 34% | 19 | 27% | 19 | -21% | 33 | 136% |
| Fairfax City VA | $ 686,500.00 | 5% | 26 | -16% | 38 | 3% | 15 | 114% |
| Fairfax County VA | $ 700,000.00 | 0% | 1004 | -36% | 1010 | -14% | 16 | 60% |
| Falls Church City VA | $ 800,000.00 | -14% | 13 | -35% | 13 | 30% | 20 | -17% |
| Fauquier County VA | $ 500,000.00 | -7% | 60 | 114% | 135 | 2% | 25 | 127% |
| Federick County VA | $ 383,000.00 | 7% | 109 | -35% | 222 | 25% | `36 | 140% |
| Franklin County PA | $ 260,750.00 | 11% | 104` | -31% | 210 | 7% | 35 | 21% |
| Frederick County MD | $ 440,081.00 | -2% | 314 | -29% | 229 | -23% | 24 | 118% |
| Jefferson County WV | $ 363,039.00 | -9% | 83 | -13% | 129 | 5% | 48 | 336% |
| King George County VA | $ 405,000.00 | -1% | 17 | -65% | 51 | -15% | 40 | 344% |
| Loudoun County VA | $ 698,250.00 | -4% | 426 | -36% | 493 | 14% | 17 | 113% |
| Manassass City VA | $ 423,000.00 | -7% | 45 | -13% | 34 | 0% | 11 | 38% |
| Manassass Park City VA | $ 446,000.00 | 27% | 11 | -35% | 11 | -31% | 9 | 50% |
| Montgomery County MD | $ 604,000.00 | 2% | 779 | -38% | 856 | -15% | 16 | 23% |
| Morgan County WV | $ 359,900.00 | 60% | 19 | -51% | 50 | -14% | 44 | 132% |
| Prince William County VA | $ 520,000.00 | -2% | 44 | -94% | 410 | -4% | 15 | 88% |
| Stafford County VA | $ 500,000.00 | 0% | 180 | -36% | 235 | -16% | 21 | 91% |
| Warren County VA | $ 363,000.00 | 3% | 45 | -22% | 86 | 10% | 30 | -3% |
| Washington County MD | $ 315,000.00 | 13% | 104 | -47% | 229 | 0% | 40 | 90% |
| Washington DC | $ 676,500.00 | -3% | 612 | -37% | 1836 | 0% | 30 | 7% |
| York County PA | $ 262,250.00 | 10% | 435 | -17% | 567 | -4% | 24 | 33% |
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