Posted on September 10, 2012 by Corey Hart
Sep

10

2012

Active listings shrink, drop below 12,000 for only the 2nd time since 2006

OVERVIEW

The Baltimore Metro housing market continues to exhibit signs of strength compared with last year.  Both sales and new contracts had double-digit growth from August 2011.  The median sale price for the metro area also rose from last year albeit slightly.  If demand persists into the fall, the shrinking inventory of homes for sale will continue to play a major role in the market.  Currently, the low supply of active listings is putting upward pressure on prices, decreasing days-on-market (down 17 days from last year), and increasing the average sale-to-list price ratio (up 3.5 points from last year).  Many people are likely keeping their homes off the market due to continued economic uncertainty, preferring to wait it out. 

Posted on July 10, 2012 by Corey Hart
Jul

10

2012

Supply Continues to Shrink - Lowest New Listings in Fifteen Years

Rockville, MD – (July 10, 2012) – The following analysis of the Baltimore, MD Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on June 2012 MRIS housing data.

OVERVIEW

Median sale prices are on the rise throughout the Baltimore Metro Area, and metro-wide, have reached $250K for the first time in two years.  Despite the rising median prices, overall economic uncertainty could be a major factor in keeping many would-be sellers on the sidelines.  The quantity of active listings continues to drop, and the new listings entered in June are the lowest June-level since 1997.   The shrinking inventory of homes for sale in the region coupled with growing buyer activity is pushing prices up, and shortening the average days-on-market (down 14 days since June 2011).  Sale-to-original list price ratios have also narrowed (increasing 2.9 percentage points since June 2011), further evidence of a tightening market.  Detached homes are driving sales growth in the metro area; however the condo market posted the highest percentage growth of new contracts in June, and perhaps early evidence of a changing pattern.

Posted on July 10, 2012 by Corey Hart
Jul

10

2012

Rockville, MD – (July 10, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on June 2012 MRIS housing data.

OVERVIEW

Median sale prices continue to climb through most of the Washington Metro Area.  Price gains, decreasing days-on-market (average down 10 days from June 2011), and a tightening sale-to-list price ratio (up 2.0 percentage points from June 2011) are evidence that the diminishing inventory of homes for sale in the region is having an impact on the market.  The DC Metro Area posted its 16th consecutive month of year-over-year declines in active listings, and the pattern appears to be holding as new listings in June are at a historic low.  The condo market is showing signs of strength, outpacing detached homes and townhomes in June on year-over-year growth in sales, median price gains, and new contracts.

Posted on June 11, 2012 by Corey Hart
Jun

11

2012

Diminishing supply continues

Rockville, MD – (June 11, 2012) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on May 2012 MRIS listing housing data.

Click here to view PDF version of this report

OVERVIEW

Inventory in the Washington region continues to shrink.  In May, the level of active listings was at its lowest May-level since 2005.  Additionally, the number of distressed property listings (foreclosures and short sales) is at the lowest level since MRIS began tracking this metric in April 2009.  The reduction in supply is putting upward pressure on prices, as evidenced by the 11 percent rise in the median sales price from May 2011.  This price gain reflects the fourth consecutive year-over-year gain, and the second consecutive double-digit increase for home prices in the region.  These trends, coupled with decreasing Days on Market (average down 17.6 percent from May 2011), and an increasing sale-to-list price ratio (up 1.9 percent from May 2011) signal that it is a Seller’s market heading into the summer months.

Posted on June 11, 2012 by Corey Hart
Jun

11

2012

Rockville, MD – (June 11, 2012) – The following analysis of the Baltimore, MD Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on May 2012 MRIS listing data.

Click here to view PDF version of this report

 

OVERVIEW

The Baltimore Metro Area housing market continues to see declining inventory and median sale prices that are trending upward. As the shrinking supply lingers, upward pressure on pricing should continue, as evidenced by the fourth consecutive year-over-year median sale price increase in May for the region. Rising demand is also driving up prices, as new contracts and closed sales continue to increase, following seasonal patterns. Notably, the condo market is picking up strength with seven consecutive year-over-year gains in closed sales, and a 21.5 percent increase in new contracts compared to May 2011. Current trends also point to a diminishing supply of foreclosures and short sales in the market, which now account for 17.1 percent of all active listings, the lowest percentage in two years.

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