Warmer than normal…Where’s the contracts

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Ok…The snow has melted, where are all of the contracts? Slooowly it is picking up. This weeks contracts were up from last week but not by much. 75 in the last week, with a total of 289 for the month. The new listings are still at a slow pace with only 53 this week and a total of 463 for the month. The total inventory in Frederick County sits at an almost all time high of 1141. The numbers seem to lopsided as I mentioned last week. So, I started to pull the expired and withdrawn listings. The make up the difference with 178 for the month.

IMHO, I see the frustration in the sellers as the sellers are switching agents because their home is not selling. I am seeing a lot more CKO contracts…(Contigency with a Kick Out) Buyers are now making offers on homes with a “Home to sale” contigency. Homes are sitting on the market for a little longer these days… About 85 days on average. In other words…The market is normalizing. Buyers have choices and sellers need to be flexible to make contracts work. This is not a bad thing, we needed to slow it down a little before our entry level homes become $500,000 for first time buyers.

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