Posted on September 10, 2013 by Corey Hart
Sep

10

2013

Pace of inventory decline slows, even as sales growth continues

OVERVIEW

Demand remained strong in the Baltimore Metro Region in August.  The number of sales and pending contracts increased.  Inventories continue to decline, but the pace has slowed to only a single digit year-over year decrease for the second consecutive month.  The decline in overall inventories has been mitigated by the continuing trend of increased new listing activity. Demand for condo and townhome properties continues to be strong.  Townhome sales drove the majority of the increases in both sales and new contracts.  Smaller units had the highest increase in median sales price, with units less than 800 square increasing by 20.5 percent, or four times the 5.0 percent increase for all units.  The overall high demand and low supply contributed to median sale price gains within the region and resulted in the highest August-level median sales price in since 2008.  The median days-on-market continues to be historically low, and is now at its lowest August-level in eight years.  Rising prices and strong demand should continue to encourage new sellers to enter the market, increasing new listings and helping to meet pent up demand.

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Posted on August 12, 2013 by Corey Hart
Aug

12

2013

Growth trend for sales, new contracts and new listings continues

OVERVIEW

Demand in the Baltimore Metro Region remains strong in the summer months, as shown by increases in sales and pending contracts.  Inventories continue to decline, but the pace has slowed, bolstered by new listings.  High demand and low supply contributed to median sale price gains throughout the region.  All counties in the region had median sales price increases in July, and the median price for the region as a whole reached its highest level since summer 2008.  The median days-on-market continues to be historically low and is now at its lowest July-level since 2005.  While the number of sales decreased from June, this is typical of summer seasonal patterns and the decline was smaller than in past years.  The Baltimore Metro Region continues to recover, with increases in new listings helping to meet pent up demand.  Increasing prices may encourage potential sellers to list their homes, continuing the growth in new listings.

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Posted on July 10, 2013 by Corey Hart
Jul

10

2013

Growth trend for new listings continues, good news for buyers; Lowest median days-on-market since the end of 2005, sellers take notice

OVERVIEW

The Baltimore Metro Region housing market continues to show signs of strength relative to last year, and some indicators are at multi-year highs.  Sales and new pending contracts rose at double-digit rates for the third month in a row, and the median sales price is nearing its pre-recession level.  The number of active listings in the market continues to fall, and remains at an 8-year low.  New listings on the other hand are trending upward, growing at a double-digit rate for the third consecutive month.  The condo market has rebounded considerably from last year, and led all property segments in terms of growth rate for several indicators including sales, new contacts, and new listings. 

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Posted on June 10, 2013 by Corey Hart
Jun

10

2013

Median days-on-market at a seven-year low

OVERVIEW

Market indicators continue to improve in the Baltimore Metro Region as we head into summer.  Sales and new pending contracts increased at double-digit rates for the second month in a row, and the median sales price resumed growth after falling flat last month.  The inventory of homes for sale remains at an 8-year May low across all property segments.  Despite the continual inventory shortage, new listings are showing signs of life and are up nearly 20 percent from this time last year, reflecting back-to-back months of double-digit growth for this indicator. 

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Posted on May 10, 2013 by Corey Hart
May

10

2013

Prices remain flat; Active listings remain historically low, but new listings rise sharply

OVERVIEW

After a slow start to the year, demand continues on an upward trend in the Baltimore Metro Area housing market.  Sales and new pending contracts both rose at double-digit rates relative to last year, evidence of improved confidence among buyers.   Despite the demand pressures, the median price remained flat in the region, rising only $500 from last year.  There were increases in median price at the jurisdiction level, however many were slower than in recent months. 

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