Many sellers are sitting out the Spring 2023 real estate market across the US.
New listings fell again in March, which is down 20% from the same month last year, according to a CNBC article on March 30, 2023. February 2023 had a 16% drop in listings, so this was an even deeper drop. Listings were down 30% from before Covid hit.
In general, across the US, homes were sitting on the market longer than last year at this time. The average time on the market was 54 days, up from 36 days at the same time last year.
I do want to note that this is an average across the US. There are still local Towson real estate markets where homes are selling very quickly, and this may be the case in other areas of the US.
Real estate is very, very local. Street by street, neighborhood by neighborhood, demand and inventory may vary.
If you are considering selling your Timonium home, please contact me. I would love to help!
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