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 25, 2014 by Corey Hart
Jun

25

2014

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Posted on June 10, 2014 by Corey Hart
Jun

10

2014

Closed sales decrease from the prior year for fifth consecutive month

OVERVIEW

The Washington, DC Metro Area continued the pattern of low buyer activity in May.  Closed sales and new pending contracts decreased from last May by 10.6 percent and 4.5 percent, respectively.  But both were above their May-levels in 2011 and 2012 with new pending contracts above their May-levels for all years from 2006 to 2012.  As in recent months, bank-mediated sales decreased at a faster rate than non-bank-mediated sales and contributed to the overall decline in closed sales.  The median sales price continues to rise, likely due to both the decline in bank-mediated sales and tight inventory.  The median sales price increased 1.2 percent and reached the highest May-level on record with data going back to 1997.  Seller participation continues to increase and both active listings and new listings rose. 

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 in seven years

OVERVIEW

In April, buyer activity remained lower than the previous year in the Washington DC Metro Area. Both closed sales and new pending sales were below their levels from this time last year, with all property segments posting declines in each category.  However, some of the decline in closed and pending sales was due to a decrease in short sales and foreclosures.  After 2008, like the nation, the DC metro region had an increasing number of bank-mediated sales.  The number of bank-mediated sales peaked in 2010 and has since been declining, falling from 15.1 percent of total sales in April 2013 to 10.7 percent of all sales in April 2014.  While this decline is a result of fewer distressed properties in the market, it has also depressed the total number of sales.  Closed sales decreased 8.3 percent, or by 350 sales, but non-bank mediated sales only fell by 3.5 percent, or by 127 sales.  Bank mediated sales declined 35.0 percent, or by 223 sales, and accounted for 63.7 percent of the decline in total sales.  Bank mediated sales had a similar role in new pending contracts, accounting for 42.5 percent of the decline in new contracts, despite being a smaller share of the market.

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dc metro, market analysis

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