- Low Inventory Impacting Maryland Pricing
- Video: 2024 Real Estate Market Insights and Predictions
- NYC, Johnathan Miller Reports Record High All Cash Purchases
- Hatteras Island, Outerbanks 2023 Real Estate Market Review
- 2023 Metro Denver Homes Sales Dropped to 2011 Levels
- Checkout Muskingum County Real Estate Transfers
Welcome to today’s roundup of the latest news in the Real Estate industry! In Maryland, the lack of inventory is impacting home pricing, making it an important consideration for potential buyers in 2024. Across the country, people are spending more on housing than ever before. Meanwhile, in Manhattan, there has been a record-high number of all-cash home sales, driven by the anticipation of lower mortgage rates. On Hatteras Island, the real estate market in 2023 saw varying trends in price gains and retreats. In Metro Denver, home sales dropped to 2011 levels, with fewer transactions and stable prices. Lastly, Muskingum County provides insights into recent real estate transfers, showcasing the diversity of properties being bought and sold. Explore these stories to stay informed about the latest developments in the real estate market.
Lack of inventory impacting Maryland home pricing, real estate association says – CBS Baltimore
If you’re looking to buy a home in 2024, there are a couple of things you want to keep in mind. According to non-profit real estate association Maryland REALTORS, people are spending more of their budget on housing than ever before, not just in Maryland but across the country. The 2024 housing market may see slow sales due to the lack of inventory, which will continue to impact pricing based on data from 2023. In November 2023, the average price of a home in Maryland was $464,000, showing a 4.5% increase from 2022.
Chris Hill, President of Maryland REALTORS, highlights the need to address the issue of the “missing middle” in housing, where individuals make too much for certain programs but not enough to qualify for others. Interest rates are coming down for buyers, and an increase in sales price can offset expenses for sellers with equity in their homes. Hiring a realtor can provide valuable assistance throughout the selling process, as each community in Maryland has different needs.
With homeownership comes the opportunity for generational wealth, and Maryland REALTORS aims to ensure that this door remains open for many. If you’re looking for a realtor, asking a friend about their buying experience is a good first step. For more information, visit MarylandHomeownership.Com , a site by Maryland REALTORS, which is another valuable resource to begin your homeownership journey.
2024 real estate market
Discover the latest insights into the 2024 real estate market. Realtors predict that more people may be buying homes this year as interest rates begin to drop. Stay informed about the trends and opportunities in the real estate market to make the most of your investments. To learn more, watch the video here .
Real Estate News, NYC legend reports record-high all-cash sales in Manhattan | Fortune
Jonathan Miller, a respected figure in New York City real estate, has observed a new trend after four decades of tracking home prices: a record-high number of all-cash home sales in Manhattan. The surge in cash deals is likely driven by the anticipation of lower mortgage rates in the coming years, creating an opportunity for buyers to obtain lower-rate mortgages. In the fourth quarter of 2023, 67.9% of Manhattan buyers paid all-cash for their homes, a significant increase from the previous year.
The rise in cash sales may make it more challenging for first-time homebuyers, as cash buyers have more bargaining power. However, the expected uptick in mortgage-related sales is predicted to decrease the market share of cash buyers. Despite limited housing supply, home sales prices in Manhattan increased in the fourth quarter, and this upward trend is expected to continue modestly in 2024.
For more details on this report, read the full article here .
Island Real Estate: Year in Review | Island Free Press
Take a look back at the real estate market in 2023 and see which areas on Hatteras Island experienced price gains and retreats in home prices. While some areas had low sales volume compared to previous years, it’s interesting to compare the last “normal” year in 2019 with the recent market trends. The total number of homes sold on the Outer Banks decreased in 2023, and median residential sales prices varied across different areas.
Notably, Frisco, Kill Devil Hills, and Manteo were the top performers in terms of price appreciation, each with unique factors contributing to their success. On the other hand, Buxton, Duck, and Nags Head experienced declines in median sales prices due to specific circumstances. The real estate market is showing more nuanced changes compared to the previous years of consistent growth.
Looking ahead to 2024, areas like downtown Manteo, Frisco, and Hatteras are expected to have potential for home price appreciation. With inventory still below 2020 levels and mortgage rates playing a role in market activity, the year ahead holds opportunities for buyers and sellers alike.
For more insights and information on the Hatteras or greater OBX real estate market, you can visit the Island Real Estate: Year in Review article.
Metro Denver home sales in 2023 dropped to 2011 levels
The housing market in Metro Denver faced a challenging year in 2023, with both closings and the dollar value of transactions down by about 18% compared to 2022. Despite higher mortgage rates, home prices remained stable as sellers kept their homes off the market, reducing supply. The number of closings in December 2023 was down from the previous month and the previous year.
For the entire year, there were significantly fewer sales compared to previous years, reaching the lowest number since 2011. However, prices did not decline as expected, with the median price of single-family homes and condos showing slight increases. The inventory of active listings decreased, contributing to the lack of new listings and longer selling times.
Although the number of homes sold reached a 12-year low, the dollar value of sales nearly matched 2019 levels. The future of the market will depend on mortgage rate trends and increased demand from buyers and sellers who have been waiting for more favorable conditions.
For more real estate and business news, you can sign up for the weekly newsletter On the Block .
Public Records: Muskingum County Real Estate Transfers
Explore the recent real estate transfers in Muskingum County. The list includes various property transactions, providing details such as buyer and seller names, property addresses, and sale prices. These records offer insights into the local real estate market and showcase the diversity of properties being bought and sold in the area.
To view the full list of Muskingum County real estate transfers, visit the Zanesville Times Recorder .