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
Double-digit gains in DC Metro contract activity in August
Posted on September 10, 2015 by Corey Hart
Sep

10

2015

Closed sales up for ninth straight month; Prices dip slightly for first time this year

Rockville, MD – (September 10, 2015) – The following analysis of the Washington, D.C. 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 Washington, D.C. Metro housing market ended the summer season with strong sales activity.  Pending sales are at their highest August levels in a decade, while sold activity is at the third highest August level in a decade.  Median sales prices dipped slightly, overall inventories increased, although at a slightly slower pace than recent months, and median days-on-market increased to 25 days.    

The 4,515 closed sales in August represent a 7.8% increase from last year, although they are down 13.6% from last month.  New contracts rose by 10.6% from August 2014 to 4,713, and dropped 9.7% compared to last month. This marks the sixth consecutive month that all market segments have experienced year-over-year increases in both closed sales and new contracts.  The overall median sales price dipped a slight 1.0% to $411,000.  The median sales price for single-family detached declined 3.9% to $500,000, while townhome prices remained flat at $400,000 and condos increased 0.8% to $302,250.  Month-over-month prices were down 9.1% for single-family detached and down 2.4% for townhomes, although condo prices rose 4.2%.

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dc metro, market analysis, press release
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
Another solid month for the DC Metro housing market in July
Posted on August 10, 2015 by Corey Hart
Aug

10

2015

Pending contracts and sales growth continues to hit double-digit percent gains; Prices remain near record highs

Rockville, MD – (August 10, 2015) – The following analysis of the Washington, D.C. 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

The Washington, D.C. Metro housing market enjoyed another strong month in July, with both closed and pending sales at their highest July levels in a decade.  Median sales prices continue to rise very slowly, and median days-on-market remain very low.  Closed sales of 5,225 represents a 15.1% increase from July 2014, although they are down 7.6% from June 2015.  New contracts increased by 9.4% from July 2014 to 5,221, although they did drop 9.3% compared to last month. All market segments experienced year-over-year increases in both closed sales and new contracts.  The year-over-year overall median sales prices rose 1.1% to $432,500, which nearly matches the previous July high of $435,000 seen in 2007.  The median sales price for single-family detached rose 2.8% to $550,000, while townhome prices dropped 1.9% to $410,000 and condos decreased 3.3% to $290,000. 

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dc 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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