Posted on December 10, 2015 by Corey Hart
Dec

10

2015

Sales and pending contracts both up about 10%; Median sales prices unchanged, inventory growth slips for third straight month

Rockville, MD – (December 10, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on November 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market showed strong increases in sales and pending contracts, with sales at the highest November level since 2009 and pending contracts at their best November level in over a decade.    Median sales prices were unchanged from last year, with single-family detached and townhomes increasing and condos declining.  Inventory growth has declined for the third consecutive month, although buoyed by the strong rise in new listings.

There were 2,373 closed sales in November, which is up 10.1% compared to last year, but down 20% from last month.  New contracts increased 9.2% from the prior year to 2,997 but are down 16.6% compared to last month.  With an overall median November sales price of $230,000, prices were unchanged from last year, but down $5,000 or 2.1% from last month.  Compared to last year, the median sales price for single-family detached rose 2.7% to $298,900 and townhome prices rose 1.5% to $167,500, while condo prices declined 1.3% to $190,000.  Month-over-month prices were down 0.3% for single-family detached, down 0.9% for townhomes and down 3.8% for condos.  Total sold dollar volume across the Baltimore Metro region in November was slightly more than $642 million, up 10.8% from last year.

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Posted on November 10, 2015 by Corey Hart
Nov

10

2015

New pending sales increase 7.8% in October; Inventories up for 25th consecutive month though rate of growth continues to decline

Rockville, MD – (November 10, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on October 2015 MRIS housing data.

OVERVIEW

The Washington, D.C. Metro Area housing market continued to see increases in closed and pending sales in October, with pending contracts at the best levels in a decade.  Median sales prices were comparable to both last year and last month.  Inventories continue to grow, driven by the highest October level of new listings since 2007, but at a continually slowing rate. 

There were 3,871 closed sales in October, up 2.3% compared to last year and down 6.0% compared to last month.  New contracts of 4,794 were at the highest October level in at least a decade, up 7.8% compared to last year and 0.3% compared to last month.  The overall median sales price of $399,000 dipped an insignificant $1,000 or 0.3% compared to both last month and last year.  Condos saw median prices rise 0.5% to $305,000, while single-family detached fell 1.6% to $472,500 and townhomes declined 0.2% to $397,250.  Compared to last month, condos were up 3.4%, while single-family detached were down 3.1% and townhomes were down 0.7%.

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Posted on November 10, 2015 by Corey Hart
Nov

10

2015

Median sales prices fall slightly, inventories down for second straight month

Rockville, MD – (November 10, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on October 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market experienced strong increases in sales and pending contracts, with both at decade-high levels and both also showing double-digit increases year-over-year.  Median sales prices declined slightly.  Inventory growth has declined for the second consecutive month, although buoyed up somewhat by the continuing rise in new listings. 

There were 2,965 closed sales in October, a one-unit increase from last month, but up 15.7% from October 2014.  The number of new contracts increased 15.5% from the prior year to 3,595.  The overall median October sales price of $235,000 was unchanged from last month, but down $4,000 or 1.7% from last year.  Compared to last year, the median sales price for single-family detached rose 0.6% to $299,900, townhome prices also rose 0.6% to $169,000, while condo prices slipped 0.7% to $197,500. Total sold dollar volume across the Baltimore Metro region in October was up 16.3% from last year to slightly more than $823 million.

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Posted on October 12, 2015 by Corey Hart
Oct

12

2015

Region sees double-digit percent gains in closed sales and contracts

Rockville, MD – (October 12, 2015) – The following analysis of the Washington, D.C. Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on September 2015 MRIS housing data.

OVERVIEW

The Washington, D.C. housing market began the fall season with very strong sales activity.  Pending sales are at their highest September level in at least a decade, while sold activity is at the highest September level since 2006.  Median sales prices rose slightly and overall inventories increased, although the inventory growth rate continues to slow.  Median days-on-market increased by one.

There were 4,117 closed sales in September, which represents the highest level of September sales since 2006.  Closed sales were up 15.4% compared to last year and down 8.8% over last month.  New contracts were at the highest September level in at least a decade; at 4,781 the number of new contracts was up 12.5% over last year and up 1.4% over last month.  The overall median sales price rose 2.6% to $400,000.  All property types experienced increases in median sales price, with condos up 3.5% to $295,000, single-family detached up 2.7% to $487,750 and townhomes up 2.6% to $400,000.  Month-over-month prices were down by 2.7% overall, with single-family detached down 2.5%, condos down 2.4% and townhomes unchanged.

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dc metro, press release
Posted on October 12, 2015 by Corey Hart
Oct

12

2015

Median sales prices fall, inventory declines for first time in two years

Rockville, MD – (October 12, 2015) – The following analysis of the Baltimore Metro Area housing market has been prepared by Elliot Eisenberg, Ph.D. of RealEstate Business Intelligence (RBI) and is based on September 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market enjoyed a strong start to the fall season, with closed and pending sales at their highest September levels in a least a decade and both exhibiting double-digit growth over the prior year. Median sales prices were down slightly, while median days on market inched up.  For the first time in two years, inventory growth was negative, even though new listings rose. 

There were 2,964 closed sales in September, an increase of 17.9% from September 2014, although down 10.7% from last month.  The number of new contracts increased 24.4% from the prior year to 3,495.  The overall median September sales price of $235,000 was down $9,700 or 4% from last year, and down $15,000 or 6% from last month.  The median sales price for single-family detached declined 4.1% to $290,000, townhome prices remained unchanged at $175,000 and condos increased 2.5% to $205,000.  Month-over-month prices were down 7.9% for single-family detached and 5.5% for townhomes, but up 8.0% for condos.  Total sold dollar volume across the Baltimore Metro region in September was up 13.4% from last year to nearly $805 million.

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