Posted on October 10, 2012 by Corey Hart
Oct

10

2012

Persistent declines in active and new listings continue; Low inventory keeping prices above the 10-year average despite cooling demand

OVERVIEW

Activity has cooled in the Washington DC metro housing market as we end September, following typical seasonal market patterns. Closed sales, new pending contracts, and median prices all declined from August, however these indicators remain above September 2011 levels, and in many cases are at multi-year September highs, providing evidence of a stronger market. The median price is the highest September median price in...

Posted on September 10, 2012 by Corey Hart
Sep

10

2012

Median price up $29K from a year ago, new contracts at 7-year August high

OVERVIEW

Demand remains strong in the Washington DC Metro housing market in August, as many indicators reach multi-year highs.  Sales rose to their highest August-level in three years, and new contracts reached their highest August-level in seven years.  Prices continue to climb, up year-over-year for the seventh straight month, and their highest August-level in five years.  Low inventory of active and new listings persists, and is playing a major role in the price appreciation.

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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.

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