Posted on January 12, 2015 by Corey Hart
Jan

12

2015

Double-digit increase in closed sales for every jurisdiction; Contract activity up 27.5 percent

OVERVIEW

In 2014, the Baltimore Metro Area housing market continued to improve and ended on a positive note. Closed sales increased 26.7 percent between December 2013 and December 2014, the largest gain in over a year. Every jurisdiction in the region had double-digit increases in closed sales, led by Anne Arundel County (+41.5 percent). In the 2014 calendar year, the total number of closed sales increased 4.5 percent from the 2013 total. Every jurisdiction except Howard County had an increase in the number of annual sales in 2014 compared to 2013. In December, the number of new contracts signed increased 27.5 percent, indicating that upcoming months will see continued growth in closed sales.

The median sales price decreased modestly in December, driven by declines for single-family detached homes and townhomes. The median sales price for the calendar year 2014 was virtually unchanged from 2013, falling by 0.2 percent. The decrease was driven by price declines in Baltimore City and Harford County. Buyers continue to have more options as inventory rises. Heading into 2015, active inventory is 14.1 percent higher than the same point last year. New listings in December increased 28.0 percent over the number added in December 2013.

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Posted on December 10, 2014 by Corey Hart
Dec

10

2014

Modest decrease in median sales price versus 2013; Closed sales up in all jurisdictions

OVERVIEW

In November, the Baltimore Metro Area housing market continued to have increased buyer activity. Closed sales increased for all property segments and for all jurisdictions in the region. Of the jurisdictions, Baltimore County had the largest increase in sales from last November, rising 14.9 percent. New pending contracts also increased from last year for all property segments. Seller activity continues to improve, though the pace of new listing growth slowed in November. Inventory continues to be above year-ago levels and every property segment had double-digit gains. The median sales price decreased from November 2013 and has now been below its 2013-level for five months this year. The decline in median sales price was driven by single-family detached homes and condo properties. The median sales price of townhomes rose, which was the first increase for the property segment in eight months.

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Posted on November 07, 2014 by Corey Hart
Nov

07

2014

New contract activity hits highest October-level in nine years; REO listings and sales growth continues

OVERVIEW

The Baltimore Metro Area housing market had its highest year-over-year increase in closed sales since last fall, increasing 13.1 percent.  Every jurisdiction in the region had more closed sales than in last October, with the largest increases in Baltimore City (+21.2 percent) and Carroll County (+21.1 percent).  New pending contracts for the region also increased from last year, rising 16.6 percent.  Bank-owned (REO) properties played a role in this growth as new contracts for REO listings more than doubled compared to last October. The median sales price for the region was virtually unchanged, rising only 0.3 percent, though pricing for non-distressed properties rose 4.3 percent. The number of active listings increased 20.9 percent, bringing inventory to 70.8 percent of its peak-level.  New listings contributed to these gains, rising 11.7 percent from last year.

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Posted on October 10, 2014 by Corey Hart
Oct

10

2014

Increase in closed sales led by detached homes; New pending sales up six percent

OVERVIEW

In September, both buyer and seller activity in the Baltimore Metro Area increased relative to 2013.  The number of closed sales and new pending contracts increased from this time last year and both reached multi-year September highs.  Nearly every jurisdiction in the region had more closed sales than in September 2013, with only those in Anne Arundel County decreasing, falling by 5.2 percent.  Inventory continues to rise with active listings reaching the highest total in nearly three years.  New September listings contributed to rising inventory and had a double-digit increase from last year.  The median price was virtually unchanged from last year, dropping only 0.1%, but was higher than the September-levels of 2009 through 2012.  The year-to-date median sales price is $244,000, unchanged from the same period in 2013.

Posted on September 10, 2014 by Corey Hart
Sep

10

2014

Mild increase in closed sales; Prices dip slightly from last year

OVERVIEW

The housing market in the Baltimore Metro Area continued its mixed performance in August.  The number of closed sales increased 1.1 percent from last year, driven by townhomes, which were the only property segment with sales growth.  The number of new pending contracts also increased, rising 7.7 percent from last August.  Every property segment had gains in new pending contracts.  But the median sales price decreased 2.8 percent from August 2013, with declines for all property segments.  This is the second consecutive month of year-over-year declines in the median sales price and the first time in nearly three years for every property segment to decline.  The number of homes for sale continues to rise and active listings increased 24.0 percent from last year, but only reached 69 percent of their peak-level.  New listings continue to contribute to this increase and have now risen from the prior year for 17 consecutive months.

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