Despite increase in average and median home prices in December, the number of homes sold, dipped by 3.8 percent, according to Maryland REALTORS®. Average home prices rose by 3.3 percent, while median prices increased by 1.6 percent as compared to the same time in 2016.
“The period between Thanksgiving and the end of the year is typically a slow time for residential real estate sales, so it’s not surprising to see a decline in home sales,” said Maryland REALTORS® President Boyd Campbell. “The continued steady increases of average and median prices is encouraging,” Campbell noted. “We expect healthy increases in the active inventory in the new year.”