Russ Gelston-Milestone - August 2022

MILESTONE M I D -Y E A R R E V I E W

Average Sale Price increased

68.6%

since 2021!

Now is a great time to consider listing your home and taking advantage of the upward trends while they last!

Data based on listings from BRIGHT MLS from January 1st to June 30th, 2021 and 2022. Information deemed accurate but not guaranteed.

757,167

$

AVERAGE SOLD PRICE

Low: $629,000 | High: $860,000  68.6% Increase over 2021

104.4%

AVERAGE SOLD PRICE/ LIST PRICE RATIO

Low: 96.7% | High: 110.1%  2.2% Decrease from 2021

193

$

AVERAGE PRICE PER SQUARE FOOT

Leonardo and Angelica, Your Milestone community continues to perform well, with minor changes in many key market indicators. With current inventory pointing to a seller’s market, you need a Milestone specialist with the marketing and negotiation skills needed to help you achieve the best possible price. If you are thinking about selling, contact me today at 301.370.6005.

Low: $170 | High: $219  27.0% Increase over 2021

17

AVERAGE DAYS ON MARKET

Low: 3 | High: 71  70.0% Increase over 2021

EXCEPTIONAL SERVICES WITH RUSS GELSTON, YOUR MILESTONE REAL ESTATE EXPERT | 301.370.6005

WHAT A READJUSTING MARKET MEANS FOR YOU Headlines report current market conditions that may leave you with more questions than answers. The past two years were record-breaking in nearly every way. Record-low mortgage rates, an influx of buyers, sellers waiting to list, and years of under-building created the most unique market. This combination led to record-high demand and record-low supply, but wouldn’t be sustainable long term.

HOME SHOWINGS 2019 gave a good baseline of pre-pandemic levels.

Showings skyrocketed during the pandemic, and while current demand has begun to moderate slightly, showings are still above 2019 and 2020 levels.

EXISTING HOME SALES

THE EXPERTS SAY IT BEST

THE MARKET ISN’T CRASHING

Perspective is everything! While headlines are talking about sales declining, the market is on pace to close this year with more sales than 2019 and surpassing 2020.

“Today’s housing market looks a lot like the 2019 housing market, which was the strongest housing market in a decade at the time.”

It’s a turning point that’s moving back toward more pre-pandemic levels.

~ First American

PREPARED ESPECIALLY FOR LEONARDO AND ANGELICA WASHINGTON

Russ Gelston

REALTOR®, Associate Broker MD & VA Property Manager RE/MAX Realty Group The Wineman Team

301.370.6005

Office Phone: 301.258.7757 WinemanTeam@gmail.com www.RealEstateSold.net www.RussSellsMilestone.com Each Office Independently Owned and Operated.

This postcard is not intended to solicit properties already listed for sale nor intended to cause a breach of an existing agency relationship. E&OE covered.

Published by REAL Marketing (RM) | www.REALMarketing4You.com | 858.952.4280 | ©2022

The real estate market is changing – if you’ve thought about making a change and moving into your next dream home, call me today at 301.370.6005, and let’s discuss your options!

RE/MAX Realty Group 6 Montgomery Village Ave., Suite 200 Gaithersburg, MD 20879