The Mid Atlantic median real estate home sales report is in, brought to you by the Real Estate Business Intelligence Network. Use the interactive chart below to follow the sold trends in the Mid Atlantic Region. We are definitely coming out of a slump. The average sold price for February was $285,000, up from $271,000 in January. The increase in sold median price of homes was up 6.3 percent than that of the area one year ago. The downfall we shared in January was the lowest of the season, though it was up 5.5 percent from last January. Factors to blame for the fall are low inventory, harsh winter conditions, increased interest rates and our current economy following the scare of the Federal Government shut down. With temperatures beginning to rise and sellers starting to list their homes again, we are seeing market conditions healing with increased long awaited activity.
By: Tom Smith
Associate Broker, Century 21 Adventure Redwood