HAGERSTOWN, Md. (WDVM) — Home sales during the pandemic surged with families dramatically changing their lifestyles.
Record low mortgage rates have helped drive the buying frenzy. Washington County has been especially desirable for relocations from more crowded places such as the Washington, D.C. or Baltimore metropolitan areas.
With the holidays approaching, this is the time of year when real estate professionals get some “down time;” but not this year. Cathy Wantz with Real Estate Today in Hagerstown says the demand for residential properties has not slowed down one bit.
“Normally by Thanksgiving, everything slows down — and Christmas, everything slows down, but we are still surging. Prices are way up here, and mainly it is a lot of relocations coming in,” said Wantz.
In a normal market, homes typically sell below listing price; but in this overheated market, the median sales price is at least the asking price.