Posted on December 10, 2013 by Corey Hart
Dec

10

2013

Increase in active listings for all property segments

OVERVIEW

Buyer activity in the Baltimore Metro Region housing market was flat in November.  The typical winter slow-down in the region’s housing market was intensified somewhat by the shutdown of the federal government.  Closed sales increased 0.8 percent from this time last year, which is the slowest growth rate this year.  Sales decreased 10.2 percent from last month, which is nearly three times the 10-year average October to November change. 

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Posted on December 03, 2013 by Corey Hart
Dec

03

2013

A DSNews.com post - Are Cash Sales Creating a Dangerous Mirage? - covering the latest RealtyTrac report has been making its way around the Twitterverse today, with an ominous opening paragraph:

"Home prices and home sales have been rising over the past few years, pointing to a recovery in the housing market, but RealtyTrac warns that what we are seeing may not be a true recovery but instead a mirage created by investors—a dangerous mirage that could lead to trouble in the years to come."

According to the report, cash purchases made up nearly half of home sales across the nation in September. So we took a look at our local data to see how we compare to the national rate reported by RealtyTrac.  Fortunately the investor boogeymen artificially propping up prices doesn't appear to be "creating an unsustainable housing bubble" locally.  

Posted on November 11, 2013 by Corey Hart
Nov

11

2013

Increase in active listings for all property segments

OVERVIEW

Demand in the Baltimore Metro Region remained steady in October, with sales and pending contracts increasing 15.2 percent and 2.6 percent, respectively, from last October.  Total inventory increased from the prior year for the first time in over two years, with increases in all property segments.  Despite the rise, total inventory is still at historic lows and is only 58.6 percent of its 2008 peak level.  New listings increased 26.5 percent from last October and contributed to the increase in total inventory.  The median sale price increased by 3.6 percent from this time last year and was the 21st consecutive increase for this indicator.  Townhomes led the growth in closed sales, while condo properties led the growth in median sale price.

Posted on October 10, 2013 by Corey Hart
Oct

10

2013

Decline in active listings mildest in over two years; Double-digit growth for new listings for the sixth straight month

OVERVIEW

Activity in the Baltimore Region continues to be steady and strong as we enter fall.  Sales and pending contracts increased in September as compared to this time last year.  Inventory continues to decline, but as in prior months, the pace of the decline is slowing.  Median sales prices reached their highest September-level in five years, likely as a result of strong demand and tight supply.  Condo and townhome properties led the growth in both closed sales and median prices. There was a 21.9 percent increase in new listings from this time last year.

“Favorable market conditions continue to cause new sellers to enter the market,” said Jonathan Hill, President of RealEstate Business Intelligence. “This is the sixth consecutive month with double-digit percent increases in new listing activity compared to 2012.”  Homes are selling quickly; the median days-on-market was 35 days in September, which is the lowest September-level since the peak of the housing boom in 2005.  Federal uncertainty may play a stronger role over the coming months as the impact of the Federal Shutdown and debt ceiling are felt.

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Posted on September 10, 2013 by Corey Hart
Sep

10

2013

Pace of inventory decline slows, even as sales growth continues

OVERVIEW

Demand remained strong in the Baltimore Metro Region in August.  The number of sales and pending contracts increased.  Inventories continue to decline, but the pace has slowed to only a single digit year-over year decrease for the second consecutive month.  The decline in overall inventories has been mitigated by the continuing trend of increased new listing activity. Demand for condo and townhome properties continues to be strong.  Townhome sales drove the majority of the increases in both sales and new contracts.  Smaller units had the highest increase in median sales price, with units less than 800 square increasing by 20.5 percent, or four times the 5.0 percent increase for all units.  The overall high demand and low supply contributed to median sale price gains within the region and resulted in the highest August-level median sales price in since 2008.  The median days-on-market continues to be historically low, and is now at its lowest August-level in eight years.  Rising prices and strong demand should continue to encourage new sellers to enter the market, increasing new listings and helping to meet pent up demand.

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