Market Update · September 4, 2026 · 7 min read
I spent last Saturday at an open house in Harford County. Three families showed up. Two years ago, that same listing would've drawn fifteen.
The numbers confirm what I'm seeing on the ground: fresh listings of homes for sale jumped to their highest level since August 2022, according to Redfin's latest data for the four weeks ending August 30. New listings rose 2.1% week-over-week, and they're climbing while demand sits flat.
That's a real shift. For the first time in years, buyers in Maryland, DC, Pennsylvania, and Delaware have options—and a little breathing room.
This week offered buyers another piece of good news. Mortgage rates dropped to the week's best levels on Thursday, after Fed Governor Chris Waller said the Fed probably won't hike rates at the upcoming meeting unless inflation data surprises sharply.
As of September 3, Freddie Mac's Primary Mortgage Market Survey pegged the 30-year fixed rate at 6.71%. That's still elevated—I wrote about rates hitting that same mark earlier this week—but the Thursday dip matters. It signals that rates aren't locked into a one-way climb, and buyer sentiment responds to even small pullbacks.
When I talk to clients in Cecil County or Anne Arundel who've been sitting on the fence, a quarter-point move changes the math. Not dramatically, but enough to tip a "maybe next spring" into a "let's see what's out there now."
Nationally, Redfin reports that new listings are up. But what does that look like in Harford County? In Baltimore City? In Howard or Montgomery?
More inventory means sellers can't just slap a sign in the yard and expect a bidding war. I'm seeing homes in Bel Air sit for two weeks, then three. Listing agents are texting me on day ten asking if I have buyers. That wasn't happening in 2021, or even late 2024.
It also means buyers can schedule more than one showing without feeling like they're already too late. The franticness has dialed down. You can tour a townhouse in Havre de Grace on Tuesday, think about it Wednesday, and still make an offer Thursday without discovering six other contracts already on the table.
Does that mean we're in a buyer's market? Not quite. Inventory is better, not abundant. But the power balance is shifting, and smart buyers are noticing.
Here's the interesting part: new listings climbed, but demand didn't. Redfin's data shows tours and offers holding steady, not accelerating to match the new supply.
Part of that is rates. Even with Thursday's dip, we're still hovering near yearly highs that rattled buyers in late August. A 6.71% rate is workable, but it's not exciting. It doesn't make someone who's comfortably renting suddenly sprint toward homeownership.
The other part is psychology. After two years of whiplash—rates up, rates down, war jitters, Fed speculation, oil shocks—a lot of buyers are just tired. They're waiting for clarity that may never come.
But here's what I tell clients: the market doesn't send engraved invitations. If you're financially ready and the monthly payment works, more inventory and stable rates are about as good a signal as you'll get.
The Redfin study is national, but I'm tracking how these trends translate across my counties.
Harford and Cecil Counties are seeing the most noticeable inventory bump. Sellers who held off through the spring—hoping rates would fall and bring back multiple offers—are finally listing. They've accepted that 2026 isn't 2021, and sitting on a property costs money.
Baltimore County inventory is climbing, but selectively. Older housing stock in Towson and Catonsville is moving; overpriced suburban splits are sitting. Buyers have choices now, so pricing has to be honest.
Howard and Montgomery Counties remain tight, especially for single-family homes in top school districts. More listings help, but demand in these areas stays stronger because of job proximity and schools. I wrote about the school premium recently—it's real, and it doesn't evaporate just because rates tick up.
Anne Arundel and Prince George's are a mixed bag. Waterfront and commuter-friendly areas near Annapolis or the Metro are holding value; further-out subdivisions are seeing longer days on market.
DC proper is interesting. Condos and smaller units are seeing more movement as investors and first-timers find opportunity, but single-family inventory remains constrained by zoning and land scarcity.
York and Lancaster Counties in Pennsylvania are benefiting from spillover demand. Maryland buyers priced out of Howard or Baltimore Counties are looking north, and Pennsylvania's relatively lower property taxes sweeten the deal. Inventory is up there too, and it's drawing attention.
New Castle County, Delaware has always been a wildcard—closer to Philly than Baltimore for some buyers—but I've had three inquiries this month from clients exploring Wilmington-area options. It's not a flood, but it's not zero.
If you've been waiting for a sign, this is as close as it gets.
More listings mean you can be selective. You're not settling for the least-bad option in a seven-day window. You can compare. You can negotiate inspection repairs without the seller laughing you off the phone.
Rates at 6.71% aren't thrilling, but they're not the 7%+ whispers we were hearing last week. And if the Fed holds steady—which Waller's comments suggest is likely—we might see a few more months of relative rate stability before the next move, whatever direction that takes.
I'd encourage you to get pre-approved now, even if you're not planning to write an offer tomorrow. Lenders are busy, and having your financing lined up means you can move when the right house appears. I've seen too many buyers lose good properties because they weren't ready to go.
Browse current listings across my Maryland, DC, Pennsylvania, and Delaware markets and get a feel for what's out there. Inventory is better, but good homes still move. The difference now is you have time to think, not just react.
If you're selling, the message is simple: price it right the first time.
The days of "let's list high and see what happens" are over. Buyers have options. They're comparing your house to five others, not desperately writing offers on the only listing in their zip code.
Work with a realtor who understands local comps and current absorption rates—not someone recycling 2021 pricing strategies. I've seen overpriced listings sit for sixty days, then sell for less than they would've fetched with honest pricing on day one. The longer a home sits, the more buyers assume something's wrong with it.
Staging and photos matter more now, too. I talked about common listing photo mistakes earlier this week—don't let poor marketing cost you showings when competition is real.
And if you're in a slower pocket—outer subdivisions in Charles County, older ranches in northern Harford—be prepared to offer reasonable seller concessions or cover some closing costs. It's not 2021. Flexibility wins contracts now.
Economists love the word "normalization." I'll use plain language: the market is remembering how to function without panic.
For three years, we've lived in extremes. Bidding wars. Rate spikes. Inventory so tight you could count available homes on two hands. Then whiplash corrections, Fed uncertainty, and buyer paralysis.
What we're seeing now—more listings, stable but elevated rates, steady demand—is closer to how markets used to work. Buyers have time to decide. Sellers have to compete on value. Agents actually have to explain why a house is worth its asking price, not just unlock the door and step aside.
It's not exciting. But it's workable. And for most of my clients, workable is exactly what they need.
I'll be watching the September Fed meeting closely. If they hold rates steady, as Waller hinted, we might see mortgage rates settle into a range and stay there through fall. That would give buyers and sellers a predictable window to plan around.
If inflation data surprises or geopolitical headlines flare up again, all bets are off. We've learned that lesson this year.
But right now, today, the data says this: inventory is the best it's been in four years, rates pulled back from the brink, and demand is steady. That's a window. It won't stay open forever.
If you've been thinking about buying or selling a home in Maryland, DC, Pennsylvania, or Delaware, let's talk. I'm licensed across all four jurisdictions, and I've spent twenty years teaching people how to make smart decisions with incomplete information.
The market isn't perfect. But it's better than it was last month. And in 2026, that counts for something.
Katrina Kirton Sherrod, REALTOR® · Samson Properties · Licensed in MD, DC, PA & DE · 443-616-9770 · Katrina@kkstherealtor.com
“Home is the nicest word there is.” — Laura Ingalls Wilder