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.

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.