As spring weather has arrived, so has the spring housing market and homeowners are finding good results. An analysis of the year over year home sales for March by the Maryland Association of Realtors (MAR) shows that both home sales and home prices have risen in the first quarter of 2014 and therefore home values have increased. In March of 2014 Maryland home sellers saw the following improvements in the housing market as compared to March 2013:
- Median sale price: The median home price for Maryland homes increased 1.8% making the median price $245,891. The median home price being the middle value of all homes sold (1/2 are higher and 1/2 are lower.)
- Average sales price: The average home price for Maryland homes rose 1.4% to an average sales price of $292,047. The average home price being a weighted average of all home sales in the state.
If you are thinking of selling your home or just need to know the value of your home for any other reason, get your home’s value and comprehensive report in less than a minute, which includes local comparable sales at www.marylandhomevalue.net