The real estate market in the Chesapeake Bay region has been tough for buyers to break into in recent months. Inventory remains well below the threshold of a balanced market and home prices continue to rise—in Maryland, the average price of house for October was up 8.8 percent from October 2023.
That means buyers need to put forth the most attractive offer possible to win a house in multiple-offer situations. And sellers need to price just right to take full advantage of high demand.
Associate Broker Chris McNelis, of McNelis and Associates of Berkshire Hathaway HomeServices PenFed Realty breaks down how local buyers or sellers can get the best terms possible:
