Posted on January 10, 2012 by Corey Hart
Jan

10

2012

December Signed Contracts Down 18.3% from November, Consistent with Seasonal Patterns

Rockville, MD – (January 10, 2012) – The following analysis of the Baltimore, Maryland Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the December 2011 RBI Pending Home Sales Index™ released today.

 

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OVERVIEW

Baltimore Metro Area inventory ended 2011 at the lowest level since April 2006 with 12,758 active listings. There was a significant decline in the share of the active market made up by foreclosures compared to 2010, though short sale listings market share was up. The 1,827 new listings entering the market was the lowest level on record and marked a 32.1% decline from December 2010. Signed contract activity was consistent with seasonal expectations, decreasing 18.3% from November, while closed sales exceeded seasonal patterns with a 6.2% month-over-month increase. Sales prices remained stable with a nominal decline from November, though the median price for townhouses exceeded expectations with an annual appreciation of 8.1%. 

 

Posted on December 12, 2011 by Corey Hart
Dec

12

2011

As we touched on in the November DC market analysis, there has been a significant drop-off in market activity for foreclosed properties. The top four graphics highlight this decline, but you'll also notice an uptick in short sales during the same time period. The last two graphs illustrate how these shifts can impact median sales price trends.  Note that the median sales price for "standard" sales (those not involving a short sale or foreclosure) is up 3.4% compared to November 2009 while the median sales price for bank-mediated inventory is down significantly over the same period: 23% decline for foreclosures, 20% decline for short sales.

 

 

Posted on December 12, 2011 by Corey Hart
Dec

12

2011

Highest November Contract Activity in 5 Years, Inventories Continue to Shrink

Rockville, MD (December 12, 2011) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the November 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this release

OVERVIEW

The number of contracts signed in the Washington, D.C. metro area for the month of November outpaced the 5-year November average pace by 23.3%.  While month-over-month sales usually decline at this time of year in this market, with a 10 year average drop of 6.2% , there was actually a 3.9% month-over-month increase in closed sales this November. Median sales price also showed an improvement over seasonal patterns,  increasing 4.7% from October to $335,000, whereas the 10 year average change is a nominal 0.3% increase month-over-month. While the median sales price showed some resilience, due in part to a 13.6% decline in foreclosed sales from October, it slipped 3.0% year-over-year from November 2010.

 

Posted on December 12, 2011 by Corey Hart
Dec

12

2011

Significant Movement in Foreclosures and Short Sales

Rockville, MD (December 12, 2011) – The following analysis of the Baltimore, Maryland Metro area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the November 2011 RBI Pending Home Sales Index™ released today.

 

View PDF version of this release

OVERVIEW

Baltimore Metro area listing inventory ended November at the lowest level in six years, yet new contract activity continued to remain above last year’s levels for the seventh consecutive month. While the November pending sales level of 2,078 was 6.0% below the October 2011 total of 2,210, the current decline was well below the 13.5% average October to November average decline of the past 10 years. Median sales price also outpaced seasonal patterns, rising 1.5% to $222,250 in November from $219,000 in October.  For the past five years, median sales price has slipped an average of 1.7% from October to November. The market share of foreclosed listings in both sales and inventory continued the previous month’s trend of sharp year-over-year declines.

 

 

Posted on November 21, 2011 by Corey Hart
Nov

21

2011

In the interest of saving keystrokes, we'll go ahead and quote directly from NAR's Economists' Outlook post regarding national inventory trends... 

 

"The total homes listed for sale continue to move downward.  The latest decline in October to 3.33 million was partly seasonal, as autumn and winter months nearly always have fewer listings in comparison with spring and summer months.  Still, examining listings only in the month of October (so as to get an apple-to-apple comparison), this year saw the lowest inventory since 2005."

Lawrence Yun - Chief Economist, NAR

 

Click here to see national inventory trends for October going back to 2001. Here's a chart listing the existing home inventory levels for the MRIS footprint, Baltimore Metro, and DC Metro regions.  Refer to Mr. Yun's summary above when looking at our local chart below...

 

 

market analysis, nar

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