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Your go-to source for expert advice, market trends, and actionable tips on buying, selling, and investing in real estate. Whether you're a first-time homebuyer, seasoned investor, or a real estate professional, we bring you valuable insights to help navigate the ever-changing real estate landscape. Stay informed, make smart moves, and discover the best opportunities in the market.

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Tue 11th March 2025

Real Estate Market Report for the week ending March 9nd 2025

New listings bloom as the spring market nears. Across the Bright MLS service area there were 6,347 new listings for the week ending March 9, 2025. New listings rose 10.9% with stronger gains in the D.C. metro, North Central Virginia, Southern Maryland, Maryland/West Virginia Panhandle, and the Del/Mar Coastal areas. More new listings likely will bring more buyers into the market this spring.

Purchase activity lower than last year. The number of new purchase contracts increased compared to last week but remains lower than a year ago. There were 5,762 contracts for the most recent week, dropping 3.1% year-over-year. Beyond inventory constraints, other factors like mortgage rates and economic uncertainty have caused some buyers to hesitate.

Home selling faster. Despite fewer contracts, the pace of home sales has moved in its typical seasonal pattern. The median days on market dropped one day from last week to 21 days. The timing is slightly better than last year when the days on market was two days quicker.

For personalized advice or to discuss your real estate needs, don't hesitate to reach|out to me. And as always, a referral is the best review.

Tue 4th March 2025

Real Estate Market Report for the week ending March 2nd 2025

New listings are on the rise. There were 5,707 new listings for the week ending March 2 in the Bright MLS service area, a 5.3% jump from the same week last year. The increase in listing activity likely reflects market seasonality. However, we could also be seeing an impact of the Presidential administration’s initiatives, particularly in the Washington, D.C. region.

List prices see sharp growth. The median list price in the Mid-Atlantic was $445,000, up 6.2% over the same week in 2024. Part of this uptick this week reflects relatively more new listings in the higher-cost Washington, D.C. market where the median list price hit a record high of $678,900, up 10.3% year-over-year.

Supply continues to moderately grow. There were 30,575 active listings at the end of the week, climbing 4.7% week-over-week and a sizeable 16.7% gap over the same week last year. Active inventory is growing not only because there are more new listings, but also because properties are staying on the market longer.

For personalized advice or to discuss your real estate needs, don't hesitate to reach|out to me. And as always, a referral is the best review.

Tue 25th Feb 2025

Real Estate Market Report for the week ending Feb 23rd 2025

New listings ahead of last year in latest week. There were 5,061 new listings across the Mid-Atlantic for the week ending February 23, 2025, increasing 3.6% compared to last year. Year-to-date, listing activity is tracking very close to 2024 levels as some sellers wait on the sidelines.

Contract activity lags as affordability challenges persist. Though new purchase contracts have increased week-over-week, the number of contracts has been lower than last year. During the current week ending February 23, there were 8.6% fewer contracts than a year ago. Only the Eastern Shore and MD/WV Panhandle regions had more contracts in the latest week though neither area shown a consistent trend of higher contracts in 2025.

Median days tightens seasonally. Despite lower contract activity, the days on market has tightened mirroring the typical movement of the beginning of the year. The median dropped 3 days from a week ago and now sits at 22 days. The median days now is only one day higher than last year.

For personalized advice or to discuss your real estate needs, don't hesitate to reach|out to me. And as always, a referral is the best review.

Thur 20th Feb 2025

Preparing Your Home For Sale

When preparing your house to sell, it's essential to focus on repairs, updates, and enhancing its appeal to potential buyers. Here’s a step-by-step guide on how to get your home ready:

1. Start with a Deep Clean
A clean home is a must when selling. Take the time to clean everything thoroughly:

- Windows: Wash both interior and exterior.

- Floors: Steam clean carpets or buff hardwood floors.

- Bathrooms and Kitchen: Scrub grout, clean out cabinets, and shine surfaces.

2. Declutter and Depersonalize
Buyers need to be able to envision themselves in the space, so remove personal items like family photos and excessive knick-knacks. Declutter your home by:

- Clearing countertops, shelves, and closets.

- Organizing storage spaces.

- Renting a storage unit for large furniture pieces that crowd rooms.

3. Repair Anything That’s Broken
Minor repairs can make a big difference. Take care of:

- Leaky faucets, running toilets, or broken light fixtures.

- Damaged drywall, chipped paint, or broken tiles.

- Doors and windows that don’t open or close properly.

Addressing these small issues shows buyers that the home is well-maintained.

4. Update Key Areas

If possible, invest in some updates to make your home more attractive:

- Kitchen: Consider replacing old cabinet hardware, installing a new backsplash, or upgrading light fixtures.

- Bathrooms: New faucets, updated mirrors, and a fresh coat of paint can modernize the space.

- Lighting: Replace outdated fixtures with more modern options to give your home a fresh feel.

- Paint: Repaint rooms in neutral tones to appeal to a wider audience.

5. Boost Curb Appeal

First impressions are important, and the exterior of your home is the first thing buyers will see. Make sure the outside of your house looks inviting:

- Mow the lawn, trim bushes, and plant flowers.

- Power wash the driveway, siding, and deck.

- Paint the front door and add a new welcome mat or outdoor lighting.

6. Stage the Home

Staging can help buyers see the potential of each room. This doesn’t mean you need to hire a professional (though that can help), but you can stage the home yourself by:

- Arranging furniture to highlight the best features of each room.

- Adding fresh, simple decor such as pillows or plants.

- Ensuring rooms are bright and airy with the right lighting.

7. Address Any Major Issues

If there are any major repairs needed, like a leaking roof, foundation issues, or outdated electrical systems, it's worth considering whether to fix them before listing. If you're not willing to handle these issues, be upfront with buyers and factor the cost into the asking price.

8. Get a Pre-Inspection

Consider hiring a professional to do a pre-listing inspection. This can help you identify and address any potential problems before buyers find them. A clean inspection report can also give buyers peace of mind and speed up the process.

9. Consider the Market

Finally, take into account the market conditions. If you're selling in a competitive market, making the house look its best with repairs and updates will help you stand out. In a seller’s market, you may not need as many updates, but it's still important to do basic repairs and clean up.

By focusing on these areas, you’ll increase your chances of selling quickly and for a higher price. The goal is to create a space that appeals to a broad range of buyers while showing that the house has been well taken care of.

Tue 11th Feb 2025

Real Estate Market Report for the week ending Feb 9th 2025

Showings very sluggish this year. There were 69,960 showings in the Bright MLS service area for the week ending February 9. Except for one week in 2025, this year has consistently had the lowest showings levels over the last 5 years. From the same week last year, showings are down 14.6% as buyers are being pushed out of the market by high list prices and mortgage rates hovering around 7%.

Contract times slower than the last five years. The median time to contract in the Mid-Atlantic landed at 26 days this week. This is 4 days slower than the same week in 2024, and moreover, this has been the slowest year for contract times in the last 5 years. It is taking longer for buyers to sign contracts with affordability constraints hampering their home search.

Canceled listings soar over last year. This week, there were 396 canceled listings in the Bright MLS service area, marking a 21.8% increase compared to the same week in 2024. Canceled listings have been notably higher this year, with the Washington D.C. metro area seeing the sharpest year-over-year rises among all Bright MLS regions from week to week. A canceled listing is when a seller and listing broker have terminated the listing agreement prior to its expiration date.

For personalized advice or to discuss your real estate needs, don't hesitate to reach|out to me. And as always, a referral is the best review.

Tue 11th Feb 2025

For personalized advice or to discuss your real estate needs, don't hesitate to reach|out to me. And as always, a referral is the best review.

Sun 9th Feb 2025

Why Doing a Walk-Through is Essential Before Settlement

The final walk-through of a house before settlement is an essential step in the home-buying process. It gives you one last chance to inspect the property and ensure that everything is in order before you sign the paperwork and take ownership. Here's what to look for during the final walk-through:

1. Condition of the Property

- Cleanliness: The house should be cleaned, including floors, windows, countertops, and bathrooms. Make sure that all the rooms are tidy and free from personal belongings left behind by the previous owner.

- Damage or Wear: Check for any new damage, such as holes in walls, scratches on floors, or broken fixtures. If the seller was responsible for repairs, ensure that they’ve been completed as agreed upon.

2. Repairs and Maintenance

- Previous Agreements: If the seller agreed to make repairs or improvements before settlement, verify that these have been completed to your satisfaction. You might want to have a professional come in if the repairs were substantial.

- Appliances: Test all appliances (e.g., oven, dishwasher, refrigerator, washer/dryer) to ensure they are working properly. If the sale included any appliances, they should remain in the house in good working condition.

3. Systems and Utilities

- HVAC, Plumbing, Electrical: Check that the heating, cooling, plumbing, and electrical systems are functioning as expected. Turn on faucets, check the water pressure, and test light switches and outlets.

- Air Filters: Make sure that air filters for the HVAC system are in place and clean.

4. Doors, Windows, and Locks

- Locks and Keys: Ensure that all doors and windows open and close properly and that all locks are functional. If applicable, ask for all keys, including those for the garage, mailbox, and any other areas.

- Seals: Check for any broken seals or cracks around windows and doors that could lead to drafts or water damage.

5. Fixtures and Fittings

- Agreed Items: Make sure that any items the seller agreed to leave behind, such as light fixtures, curtains, or shelving, are still in the house.

- Missing Fixtures: Verify that nothing agreed to be included (e.g., chandeliers, mirrors, or window treatments) has been removed.

6. Pests and Odors

- Signs of Pests: Look for any evidence of pests, such as droppings or holes in walls or floors. If you notice any signs of infestation, you may need to discuss this with the seller or your real estate agent.

- Odors: Be mindful of any strong or unpleasant odors, which could indicate underlying issues like mold or water damage.

7. Yard and Outdoor Areas

- Landscaping: Ensure the yard is in the same condition as when you viewed it, and check if any agreed-upon landscaping work has been completed.

- Outdoor Structures: Inspect any fences, sheds, patios, or pools to ensure they are still in good condition and as agreed upon.

8. Water Damage or Leaks

- Water Stains: Check ceilings, walls, and floors for any signs of water stains or leaks. Pay attention to areas near windows, doors, and plumbing fixtures.

- Basement and Crawl Spaces: If applicable, inspect these areas for any signs of moisture, mold, or flooding.

9. Final Cleaning and Trash Removal

- Trash Removal: The house should be free of trash and debris. If you notice garbage or personal items left behind, ask the seller to remove them.

- Clean Surfaces: Check that kitchen countertops, bathroom surfaces, and floors have been wiped down and cleaned.

10. Check the Contract and Addenda

- Review the Contract: Before your walk-through, review your purchase agreement to ensure that all agreed-upon conditions and contingencies have been met. This includes items like repairs, removal of personal property, or installation of new appliances.

- Final Adjustments: If there are any outstanding items to resolve or if you find issues that need addressing, bring them to your real estate agent’s attention immediately.

11. Take Notes and Photos

- Document Findings: Bring a checklist or take notes on what you find during the walk-through. Take photos of any areas of concern, as these can be useful if you need to negotiate repairs or request a credit before settlement.

12. Timing of the Walk-through

- Timing: Schedule your walk-through as close as possible to your settlement date. This ensures that the house is in its final condition and nothing unexpected has happened between your last visit and settlement.

By paying close attention to these details during the final walk-through, you can ensure that you are getting exactly what you agreed upon in the contract and avoid surprises after you’ve officially taken possession of the property.

Wed 5th Feb 2025

Two Reason You Should Purchase A House Before Spring

1 - Less Competition. During the winter months, the real estate market is usually not too active. Although home sales are still occurring, there are less buyers - your competition - who are actively looking to purchase a home right now. Since the market is not as active as in spring, this is the time when you can actually make an offer without having to compete with other buyers, and in many cases, if the house has been sitting on the market for a while, you may have more negotiating power, which results in you getting a better deal.

2 - Prices. Home prices are usually lower during winter. According to NAR Chief Economist Lawrence Yun, “Home sales during the winter are typically softer than the spring and summer." Home prices were at their lowest in 2024 from January to March, after which period, they rose.

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Tue 4th Feb 2025
Real Estate Market Report for the week ending Feb 2nd 2025

Purchase contracts slower than last 5 years. There were 4,736 new purchase contracts in the Bright MLS service area for the week ending February 2. Market activity has been slower than last year, with new contracts down 4.7% compared to the same week in 2024. The biggest year-over-year declines are in the Southern Maryland and North Central Virginia regions.

New listings below 2024 levels. After two weeks of year-over-year gains, new listings have slipped behind last year, totaling 4,445—a 3.8% decline from 2024. However, the Del/Mar Coastal region continues to see growth, marking its third consecutive week of year-over-year increases in new listings.

Supply remains healthier than last year. There were 29,232 active listings in the Mid-Atlantic for the week, a slight 0.7% dip from the previous week. However, inventory remains solid compared to last year, with active listings up 15.1% from the same week in 2024.

Tue 28th Jan 2025
Real Estate Market Report for the week ending Jan 26th 2025

Inventory is higher to start 2025. The number of active listings available for sale at the end of last week was 15.3% higher than the same week a year ago. Inventory is higher in nearly all submarkets across the Bright MLS service area, giving buyers more choices at the beginning of 2025.

Buyers are still hesitant. The number of new purchase contracts remains lower than 2024. Across the Bright MLS service area, there were 4,423 new pending sales, down 3.7% from last year at this time. This is now the fourth consecutive week that purchase contracts have been down year-over-year.

Prices are still challenging for buyers.The median list price was $409,995 for the week, a 3.8% increase from 2024. List prices have continued to see large margins over the winter period from last year, frustrating many potential buyers and keeping some on the sidelines.

For personalized advice or to discuss your real estate needs, don't hesitate to reach |out to me.

Tue 21st jan 2025
2025 Outlook & Real Estate Market Report fir the week ending Jan 19th 2025

Home sales will be stronger despite challenges regarding mortgage rates and other economic factors. In the mid-Atlantic region, there are 36,463 projected active listings, a 14.4% increase on 2024. Some markets will see more activity than others, including bigger metro areas (Baltimore, Philadelphia, Washington DC and its surrounding suburbs) and markets that tend to attract retirees, such as the Del/Mar Coastal region.

New listings have a resurgence. There were 4,369 new listings in the Bright MLS service area during the week ending January 19, an 8.5% increase from the same week last year and a 19.0% spike from the week prior. This week, new listings are higher than both 2023 and 2024 as sellers are hoping to capitalize on a pent-up demand in the market.

Contract times slower than last year. Homes are selling more slowly than they did last year. The median time to contract in the Mid-Atlantic was 35 days, six days slower than this week in 2024 and the slowest pace for mid-January in five years.

New contracts remain under 2024. New purchase contracts are under last year by 3.9% for the week and have tracked below 2024 levels since the beginning of the year. Although supply continues to improve, mortgage rates climbing back above 7% and rising home prices are keeping many buyers on the sidelines.

Tue 14th Jan 2025
Real Estate Market Report for the week ending Jan 12th 2025

New contracts at a five-year low. There were 3,987 new contracts in the Bright MLS service area for the week ending January 12, a 17.6% decline from the same week last year. Market activity is generally slow at the beginning of a new year, but new contracts are the lowest they have been during this week for the past 5 years.

Supply strong over last year. This week, there were 29,599 active listings in the Mid-Atlantic, an 11.5% increase over the second week of 2024. A pullback in new contract activity was the main driver of an uptick in active listings.

List prices edge lower from a week ago but are still at challenging heights. The median list price during the week ending January 12 was $399,990, a 1.2% decline from the first week of January but a 2.6% increase from 2024. With mortgage rates back up near 7%, many buyers may still feel pushed out of the market.

Tue 7th Jan 2025
Real Estate Market Report for the week ending Jan 5th 2025

Fewer new listings to start the year. There were 3,177 new listings in the Mid-Atlantic for the week ending January 5, an 11.0% decrease from the same week in 2024. While market activity tends to be low the first week of the year, new listing activity was at its lowest level in five years.

Buyers few and far between at the beginning of the year. There were 3,086 new contracts for the week, a 6.3% decrease from the same week last year. Showing activity was also slow, with the number of showings across the Bright MLS service area down 12.6% compared to last year. Like listing activity, both contracts and showing are at their lowest levels in five years.

List prices are still rising. The median list price for the week was $405,000 in the Bright MLS service area, a 6.6% hike from the same week last year. Prices have continued to rise in all regional markets, with the exception of the Washington D.C. metro area.

Tue 17th Jan 2024
Real Estate Market Report for the week ending Dec 15th 2024

New contract activity is high. There were 4,644 new pending contracts in the Mid-Atlantic for the week ending December 15, a 9.2% jump over the number of contracts in the same week last year. Contract activity has slowed seasonally, but buyers were more active than they had been during the same week in both 2023 and 2022.

New listings continue adding to supply. The number of new listings fell week-to-week, but new listings continue to add to the overall supply in the Bright MLS service area. At 3,267 new listings, this is a 3.8% increase over the same week last year. Like last week, Southern Maryland and the Maryland-West Virginia Panhandle are the only regions where new listings are not higher than last year.

List prices still high over last year. The median list price in the Bright MLS service area was $370,000 for the week ending December 15, a 5.7% increase from last year. Prices have settled as the year comes to a close, with the median list price down 6.3% from a week earlier. The Washington metro is the only metro area where list prices are down from last year at this time.

Tue 10th Dec 2024
Real Estate Market Report for the week ending Dec 8th 2024

New listings strong in late 2024. There were 3,852 new listings in the Bright MLS service area for the week ending December 8, a strong 9.8% increase over the same week last year and 2022. The Maryland-West Virginia Panhandle and Southern Maryland regions are the only areas to not see a year-over-year increase in new listings.

Showings surging over 2023. At 62,889, showings were up by 11.5% compared to last year. More inventory has brought more potential buyers into the market. However, buyer traffic is still much lower than it was in 2019 as supply is still relatively low and affordability remains a challenge.

New contracts flat from last year. Buyers may be looking, but there was no uptick in new contract activity. During the week ending December 8, there were 4,530 new contracts across the Bright MLS service area, down slightly from last year. Contracts are not increasing in tandem with new listings and showings, as buyers are taking more time and dealing with rising affordability challenges.