Posted on August 10, 2012 by Corey Hart
Aug

10

2012

Back-to-back months of historic lows for new listings

Rockville, MD – (August 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 July 2012 MRIS housing data.

Click here to view PDF version of this report

OVERVIEW

Demand in the Baltimore Metro housing market remains strong into the summer months as evidenced by consistent growth in sales and new contracts. At the same time, the inventory of active listings continues to decline, perhaps an indication that economic uncertainty is keeping many potential sellers in their homes. The increased sales activity coupled with the diminishing supply is putting upward pressure on area home prices. The median sale price in the Baltimore Metro region is $25,000 higher than this time last year, and all jurisdictions in the region posted year-over-year median sale price gains for the second straight month. Townhome price gains have consistently outpaced detached-homes and condos over the past eight months, while the condo market has led all property segments in new contract growth over the past four months.

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 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.

Posted on May 10, 2012 by Corey Hart
May

10

2012

Lowest April Inventory since 2006; Only One in Ten Sales Involves Foreclosure

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

Click here to view PDF version of the April analysis

OVERVIEW

The Baltimore Metro Area housing market saw the largest year-over-year gain in sale prices since April 2006, with a median sale price of $237,500 representing a 10.5 percent increase over April 2011. Contract activity was up 9.9 percent year-over-year, though down 3.8 percent from March 2012 levels. Active inventory is down to 12,627 listings and while this represents the lowest April level since 2006, there is a solid balance between supply and demand with 6.8 months of inventory based on the average sales rate of the last twelve months. With a Median Days on Market of 64 days representing a 29-day improvement over April 2011, properly priced homes are selling at a faster pace than last year.

Posted on April 10, 2012 by Corey Hart
Apr

10

2012

Year-over-Year Gains in Closed Sales and New Contracts

The following analysis of the Baltimore Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the March 2012 RBI Pending Home Sales Index™ released today.

View PDF version

OVERVIEW

The Baltimore Metro Area housing market continued to show signs of improvement in March, with a second consecutive month of year-over-year gains in median sale price and the level of new foreclosures listed less than half the level of one year ago. Townhome properties saw the largest year-over-year increase in pricing, while detached properties and condo/co-ops experienced more modest increases in median sale price. The $210,000 median sale price for the first quarter was 2.4% higher than Q1 2011. There is solid balance between supply and demand to end the month, with 6.6 months supply of inventory.

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