Here’s a quick visual of the market in College Park, MD. It looks like:

• median sales prices continue to fall
• Days on Market have been increasing but look like they may have leveled off
• Inventory (homes on the market) has steadily decreased. This means less people are putting their home on the market for sale.  This may be a good thing for prices in the intermediate term since less “supply” relative to “demand” may stabilize prices.  However, if short sales and foreclosures continue to  be the bulk of available homes on the market you can expect that prices will continue to fall as the banks eventually allow these homes to be sold off.

This is definitely not the sign of an upturn in the market — at least, not in College Park, MD.

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