The Market Isn’t Frozen—It’s Negotiating

The housing market is often described in extremes: hot or cold, rising or falling, favoring buyers or favoring sellers.

But that is not an accurate description of what we are seeing today.

The market is not frozen—it is negotiating.

Buyers are carefully weighing monthly payments, property condition, location and long-term value. Sellers are competing against more choices in some areas and discovering that pricing and preparation matter more than they did during the height of the market.

The result is a market with opportunities on both sides—but only for those who understand what is happening at the local level.

MONTGOMERY COUNTY: MORE CHOICES, BUT GOOD HOMES STILL STAND OUT

Montgomery County buyers are seeing more options than they had a year ago. Active inventory increased significantly this summer, while homes took a median of approximately 43 days to sell in August.

That does not mean every buyer has unlimited negotiating power. Properly priced homes in desirable neighborhoods can still attract strong interest, especially when they are well maintained and presented effectively.

However, buyers may now have more time to compare properties, examine potential repairs and negotiate terms. Sellers need to recognize that today’s buyers are less willing to overlook an ambitious price or a home that needs substantial work.

WASHINGTON, D.C.: ONE CITY, SEVERAL DIFFERENT MARKETS

Washington, D.C., demonstrates why broad market headlines can be misleading.

The condominium market has become more favorable for buyers. D.C. condo prices declined modestly year over year this summer, inventory increased and condos remained available longer than single-family homes. Meanwhile, higher-priced properties and well-positioned single-family homes continued to show greater resilience.

For buyers, this may create opportunities to negotiate on certain condos, but association finances, monthly fees, building condition and upcoming assessments must be evaluated carefully.

For sellers, the correct strategy depends heavily on the type of property. A pricing approach that works for a rowhome may not work for a condominium only a few blocks away.

PRINCE GEORGE’S COUNTY: GREATER BALANCE WITHOUT COLLAPSING VALUES

Prince George’s County continues to provide buyers with relatively accessible options compared with several neighboring markets.

Inventory has expanded, and homes are generally taking longer to secure contracts. In August, the median marketing time reached 27 days while average prices remained slightly above the previous year. That combination suggests a market that is becoming more balanced—not one that is retreating.

Buyers may have room to request repairs, credits or other favorable terms when a home has been sitting on the market. Sellers can still achieve strong results, but they must price realistically from the beginning and respond quickly to buyer feedback.

Starting too high and reducing the price later can cost a seller valuable attention during the most important first weeks on the market.

HOWARD COUNTY: COMPETITIVE, BUT HIGHLY PROPERTY-SPECIFIC

Howard County remains competitive in many communities. August produced 329 closed sales, a 12.3% increase from the previous year, while active inventory declined slightly. The median sale price remained close to $639,000, and the average marketing time held at 21 days.

Even within a competitive county, buyers and sellers should not assume every home will perform the same way. School district, condition, lot size, property type and price range can all affect demand.

A well-prepared home in a sought-after community may move quickly, while another property nearby may require a more patient and strategic approach.

HIGHER RATES ARE CHANGING THE CONVERSATION

Mortgage rates remain a major part of every buying decision. The average 30-year fixed mortgage rate reached 7.03% on September 24, making buyers increasingly sensitive to their total monthly payment.

That is why negotiations today are not limited to the purchase price. Closing-cost assistance, seller-paid rate buydowns, repair credits, settlement timing and other contract terms may be equally important.

The best agreement is not always the one with the lowest price or highest offer. It is the one structured around the priorities of the people involved.

STRATEGY MATTERS MORE THAN THE HEADLINE

There is no single market that accurately describes Montgomery County, Washington, D.C., Prince George’s County and Howard County. Conditions can change from one community, price range or property type to the next.

Buyers should not assume they must wait indefinitely for the “perfect” market. Sellers should not assume that increased inventory means they have lost all leverage.

This is a market that rewards preparation, accurate information and thoughtful negotiation.

If you are considering buying or selling, I would be happy to prepare a personalized review of your neighborhood, price range and options. Online statistics can provide context—but the right strategy begins with understanding the market that applies specifically to you.

Russell Chandler

Principal Agent – Associate Broker | Redfin

Serving Montgomery County, Washington, D.C., Prince George’s County, Howard County and the surrounding Maryland communities

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