Posted on July 10, 2014 by Corey Hart
Jul

10

2014

Increases in closed sales and new pending sales

OVERVIEW

In June, the housing market in the Baltimore Metro Area improved relative to last year, with both buyer activity and seller activity above their year-ago levels.  Closed sales and new pending sales increased by 2.8 percent and 3.2 percent, respectively.  The increase in closed sales was driven by townhomes and single-family detached homes, while the increase in new pending sales was driven by single-family detached homes alone.  The number of homes for sale continues to increase and active listings climbed 22.2 percent from last June.  The number of active listings reached its highest level in over two years but is only 67.7 percent of its 2008-peak.  New listings continue to increase, rising 19.8 percent from last year. 

Posted on June 10, 2014 by Corey Hart
Jun

10

2014

Inventory up 18.6 percent from May 2013

OVERVIEW

The Baltimore Metro Area continued the pattern of flat buyer activity in May.  Closed sales and new pending contracts were essentially unchanged from last May as closed sales increased by one sale and new pending contracts decreased by one contract.  But both were above their May-level 10-year averages.  Seller participation continues to increase and both active listings and new listings rose.  Active listings increased 18.7 percent, bringing the number of active listings to its highest level in over two years. 

Posted on May 12, 2014 by Corey Hart
May

12

2014

Highest April-level median sales price since 2008

OVERVIEW

Buyer activity slowed in the Baltimore Metro Area in April, but seller activity continued to improve.  Closed sales decreased 1.0 percent from last April, driven by decreases in sales of single-family detached homes and condo properties.  The number of new contracts declined by 1.1 percent from this time last year, but remained higher than the April-level for the six preceding years.  As compared to last year, new listings increased 13.0 percent, which is the highest year-over-year increase in four months.  The number of active listings increased 14.6 percent but is still only 59.2 percent of its peak-level.  The median sales price for the region increased 0.8 percent, or by $2,000, from last year, driven by gains in single-family detached homes and condo properties.  Seller confidence appears to be increasing as evidence by consistent increases in listings.  Despite more options, buyer activity has slowed with sales falling two of the first four months this year, after double digit growth for most of 2013.  It’s still too early to distinguish a trend, but rising interest rates, and sales prices could be playing a role.

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Posted on April 10, 2014 by Corey Hart
Apr

10

2014

New listing activity increases for 12th month in a row; Prices essentially flat compared to last year

OVERVIEW

The Baltimore Metro Area continued to see winter weather well into March, but buyers and sellers in the region were less affected by it than earlier in the year.  Both buyer and seller activity improved from last March and the number of closed sales, active listings and new listings increased from this time last year.  Closed sales increased 4.6 percent, with gains seen in each property segment.  The number of new contracts declined by 1.3 percent from March 2013, but remained higher than the March-level for the six preceding years. 

Posted on March 10, 2014 by Corey Hart
Mar

10

2014

Increase in closed sales despite winter weather

OVERVIEW

February was another unusually cold and snowy month in the Baltimore Metro Area, but the weather had less of an impact on activity in the housing market than in January.  The number of closed sales increased 5.9 percent from last February, with increases in all property segments.  But the number of new contracts signed in February fell 1.7 percent from last year, driven by declines in townhomes and single-family detached homes.  While buyer activity was mixed, seller activity continues to improve as compared to the prior year.  New listings increased 2.3 percent and continued to contribute to increases in active listings.  There were 10,107 active listings at the end of February, 7.4 percent more than the same time last year.  Despite this increase, inventory remains low and is only half of its 2008 peak level.  The tight inventory may be playing a role in price growth and the median sales price for the region increased 7.6 percent from last year.  As the weather improves, both buyers and potential sellers may be more inclined to enter the market.

Click here to view PDF version of this report

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