Let's take a look at what our previous months have shown as we are coming up into the thick of December. Will people be interested in buying or selling a home as a Christmas or New Years gift? Generally, around the winter time, you begin to hear homebuyers and home sellers claiming "the market isn't good" or "the winter is not a good time to buy or list a home," and we'll almost always disagree.

We love selling homes in the winter and have actually had one our best back end quarters ever this year! Advice to buyers would be not to back away from buying homes in the winter because the winter months give us weather conditions that may present problems you may not recognize in the warmer months of the year. The winter snow storms can show us just how sturdy and strong our roofs are and we tend to see the weaker constructed roofs exposed in the winter through leaking roofs, mildew buildup in attics, flashing leaks within the windows, gutter damage, and water runoff issues.

Possibly one of the biggest pluses of home searching in the winter would be the ability to check plumbing issues. During the winter, frozen pipes, which may lead to leakages or beaks in the pipes, show more often. Heating systems may show insufficiency more in the colder months than the warmer months. The winter is the most important time to make sure your pipes don't freeze, your insulation works correctly, and all mechanical and electrical functions of the home are working correctly in the freezing conditions. 

As per the winter market, what we are seeing this month compared to recent is the continuation of a down sales market yet a steady market at the same time. What we mean by this is we continue to see a decrease in active inventory and units sold, however, we are still having an increase in median sales price and a decrease of property's time on the market as we have in recent months and compared to the previous year. Here are this months market statistics:

Units Sold: 667 Units in October 2018, down -11% vs. October 2017. There are nearly 200 fewer units than two months ago in August 2018. 

Active Inventory: 3,281 Active Units in October 2018, down -8% (decrease of 277 units) vs. October 2017. We also see a -4% decrease in this month's active inventory vs. last months (Septmeber 2018) active inventory. September 2018 held 3,416 units, while this month just 3,281. 

Median Sale Price: October 2018 had a median sales price of $145,000, 4% increase from October 2017's median sale price of $139,900. The median sale price has also increased by 4% as well from last month, September 2018. 

Days on Market: We see a very minor decrease of the average days on market from October 2017 to October 2018. This October had an average of 64 days, whereas October 2017 averaged 62 days. Only a 3% decrease. 

Those listing their houses are still seeing an average sales price in Baltimore City of 98.,3% of the average list price which is very similar compared to a year ago. The market may be a little slower, but the market is still in favor of the seller as it has been all year. The key thing to watch over the next couple of months will be the interest rates. Stay tuned!