Rates are Still the Big Headline

Mortgage rates are still the big story this season. The average 30-year fixed has been holding steady around 6.9%; a rate high enough to make some buyers hesitate, but not enough to sideline all of them. This persistent rate environment is shaping buyer behavior, pushing selectivity, and emphasizing the quality and location of a home.

Montgomery County Market Snapshot

Here in Montgomery County, homes are still moving with confidence. The median sale price is around $480,000, which is up about 6% compared to last year. Most listings are spending roughly 20 days on the market, showing that well-positioned properties are still in demand and selling within a reasonable timeframe.

In May alone, 791 homes were sold. That number is slightly down from last year, but it reflects something important. Buyers are becoming more selective, not less serious. In fact, nearly half of the homes that sold last month closed over the asking price. This confirms that competition still exists, but only for the best listings.

What This Means for Sellers: Three Pillars of Strategy

So what does this mean if you’re a homeowner thinking about selling?

It means strategy matters. This isn’t 2021, where anything listed would fly off the shelf. Today, sellers need to focus on three essential pillars to capture the discerning buyer:

  1. Price It Right from Day One: Overpricing is the quickest way to have your home sit and eventually need a price reduction, which signals weakness. Pricing within a tight, competitive window ensures strong initial activity.
  2. Presentation is Everything: The homes that are staged well, photographed beautifully, and professionally marketed are the ones still drawing multiple, strong offers. Buyers need to see the value immediately to overcome the hurdle of higher interest rates.
  3. Offer Flexibility: Be prepared to negotiate on terms that aren’t just price. This could mean a flexible closing date or offering a small credit toward the buyer’s closing costs. Showing flexibility can be the key difference that gets your deal across the finish line.

The market is rewarding preparation and tactical execution. If you do the work upfront, you can still achieve outstanding results.

If you’re thinking about selling or just want to explore what your home might be worth in today’s market, feel free to reach out. I’m happy to have an honest conversation and help you map out your next steps for a successful sale.