Rising inventory, longer days on market, and more frequent price reductions are all signaling a growing buyer’s market in the OCMD area. This means buyers have a leg up on negotiations and that they may be able to find homes that meet more of their preferences. With this switch on the horizon, trust a tried and true local realty company like Hileman Real Estate to provide tips for buying a home in Ocean Pines, MD.
A Buyer’s Market Guide for Purchasing Homes in Ocean Pines, MD
Houses and Properties Spend More Time on the Market
While the average time on the market has only increased by about a week, the extra time allows buyers to craft a more thoughtful and careful offer with the support of their real estate agent. The team at Hileman Real Estate is very well-established in Ocean Pines, MD, and understands the market well.
Median Home Prices are Dropping Slightly
Even if this is seen as a slight leveling off from the rapid price increases we saw over the last few years, the cooling is a welcome sign for buyers who have been waiting for a calmer, more advantageous market.
Interest Rates Are Steady, For Now
If nothing else, we know that the interest rates for mortgages are holding for now, so they will likely be relatively predictable for the remainder of the busiest portion of this year’s buying season. If you’re looking for a second residence or investment property near OCMD, the team at Hileman Real Estate can help you make a move now by placing an offer.
Ocean Pines Amenities Remain In-Demand
Homes for sale in Ocean Pines, MD, are still an attractive and affordable prospect for local families, people looking to retire to the Shore, and investors. This demand makes buying a home that’s part of or near the Ocean Pines Association a sound and forward-thinking decision. Learn more about the amenities available to homeowners.
Having a relationship with a proven real estate company on the Eastern Shore is the first step to making a property investment or home purchase. Contact Hileman Real Estate to get started today!