Baltimore Metro contract activity reached highest November level since 2004
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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baltimore metro, market analysis, press release
Over 15% growth in both sales and contract activity in the Baltimore area in October
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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baltimore metro, market analysis, press release
Strong sales growth in Baltimore Metro area, pending contracts up by nearly 25%
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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Baltimore area home sales continued outpacing 2014 levels in August
Posted on September 10, 2015 by Corey Hart
Sep

10

2015

Closed sales and new pending sales up 17% and 13% respectively; Prices up slightly, led by townhomes

Rockville, MD – (September 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 August 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market enjoyed strong sales in August, with double-digit increases in sales and pending contracts and slight growth in inventory levels and new listings.  Although single-family detached and condo median sales prices fell slightly, the increase in townhomes more than compensated, leading to an overall 2% increase in median sales prices in the region.

Closed sales of 3,318 increased by 17.0% from August 2014, although down 8.4% from last month.  New contracts increased 12.9% to 3,552 and are at their highest August level in a decade. The median August sales price of $250,000 was up $5,000 from last year. The median sales price for single-family detached declined 0.9% to $315,000, while townhome prices rose 2.9% to $185,200 and condos decreased 0.1% to $189,750.  Total sold dollar volume across the Baltimore Metro region in August was nearly $960 million, up 17.2% percent from last year, although down 10.7% from last month.  Inventories increased by 1.1% to 14,093 total active listings.

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baltimore metro, market analysis, press release
Sales up, DOM down in the Baltimore Metro area
Posted on August 10, 2015 by Corey Hart
Aug

10

2015

Prices up slightly compared to last year

Rockville, MD – (August 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 July 2015 MRIS housing data.

OVERVIEW

In July, the Baltimore Metro housing market saw double-digit increases in sales and pending contracts, slight growth in in inventory levels, and a small increase in year-over-year median sales prices.  Closed sales of 3,623 increased by 23.0% from July 2014, although down 6.5% from last month.  The number of new contracts increased 15.7% from the prior year to 3,959, and reached the highest July level in a decade. The median July sales price of $259,900 was up $3,900 from July 2014, and unchanged from last month.  Total sold dollar volume across the Baltimore Metro region in July was nearly $1.1 billion, up 20.8% percent from last year.

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baltimore metro, market analysis, press release

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