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

Rockville, MD –(March 12, 2012) – The following analysis of the Baltimore Metro Area housing market has been prepared by RealEstate Business Intelligence (RBI), and is based on the February 2012 RBI Pending Home Sales Index™ released today.

View PDF version of this analysis                                                                      

OVERVIEW

The 1,454 homes sold in the Baltimore Metro Area represent the highest February total since 2007. Inventory levels continue to decline with 11,919 active listings at the end of February representing the lowest supply of homes since March 2006. With 440 active foreclosures representing only 3.7% of the active inventory (the lowest level since November 2008) and a shift in the composition of homes types sold, the median sales price for the region saw an annual (year-over-year) increase for the first time in 16 months. 

Foreclosures continue to decline, short sale market share up

Rockville, MD –(February 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 January 2012 RBI Pending Home Sales Index™ released today.

View PDF version of this release

OVERVIEW

Baltimore Metro Area listing inventory ended January at the lowest level since April 2006, yet new contract activity was 2.5% higher than January 2011. Pricing continued along a stable course with a nominal year-over-year decline but the median sold price for townhouses showed a surprising year-over-year spike of 22.6%.  The market share of foreclosed listings in both sales and inventory continued the previous month’s trend of sharp year-over-year declines. New listing activity continued to decline compared to the same period last year, though there were 16.9% more short sales added in January compared to January 2011.