Baltimore Metro new pendings hit highest monthly tally in a decade
Posted on May 11, 2015 by Corey Hart
May

11

2015

New contracts and closed sales both top April 2014 marks by 23 percent; Prices dip slightly as foreclosure sales increases continue

Rockville, MD – (May 11, 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 April 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market saw large increases in sales, new contracts and inventories compared to April 2014, but experienced a small decline in median sales prices.  Closed sales of 2,796 increased by 22.8% from April 2014 and by 10.4% compared to March 2015.  The number of new contracts increased 22.5% to 4,387 from the prior year, and are at their highest April level and highest overall number in a decade. The median sales price in April in the Baltimore Metro area was $230,000, down $10,000 or 4.2% from a year earlier and nearly flat compared to last month.  The $267,000 median sales price for “non-distressed” sales (those not involving a short sale or foreclosures) is also down just slightly from the median sales price of $269,450 last April.  Total sold dollar volume across the region in April was more than $743 million, up 16.5% percent from last year.

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baltimore metro, market analysis, press release
DC Metro market scores strongest March sales tally since 2010
Posted on April 10, 2015 by Corey Hart
Apr

10

2015

March contracts and closed sales up over 2014 levels, inventories increase

Rockville, MD – (April 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 March 2015 MRIS housing data.

OVERVIEW

The Washington DC Metro housing market enjoyed another strong month, with year-over-year increases in sales, new contracts, inventories and median days-on-market compared to March 2014.  Closed sales increased by 15.6% from March 2014 and new contracts rose by 10.8%, with all market segments experiencing a rise.  The number of closed sales increased to 3,662 with single-family detached making the strongest showing, rising by 19.0% to 1,677 units.  The number of new contracts increased to 5,554 with single-family detached increasing by the largest percentage of 12.4% to a total of 2,622.  Overall median sales prices rose by 2.6%.

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dc metro, market analysis, press release
Most March home sales since 2007 in the Baltimore area
Posted on April 10, 2015 by Corey Hart
Apr

10

2015

Inventories continue to rise; Overall prices largely unchanged

Rockville, MD – (March 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 March 2015 MRIS housing data.

OVERVIEW

The Baltimore Metro housing market saw large increases in sales, new contracts and inventories compared to March 2014, with a slight increase in prices.  Closed sales of 2,532 increased by 23.6% from March 2014 and by 36.1% compared to February 2015.  The number of new contracts increased 19.6% to 3,861 from March 2014, and are at their highest March level and highest overall number since March 2006. The median sales price in March in the Baltimore Metro area was $230,075, up a slight $2,575 or 1.1% from a year earlier and up $5,075 compared to last month.  This was the highest March median sales price since 2009.  The $270,000 median sales price for “non-distressed” sales (those not involving a short sale or foreclosures) increased $10,000 from the prior month and $13,000 from the prior year. Total sold dollar volume across the Baltimore Metro region in March was nearly $669 million, which is up 22% percent from last year.

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baltimore metro, market analysis, press release
RBI names 20 home buyer hot spots in the Baltimore Metro area
Posted on March 12, 2015 by Corey Hart
Mar

12

2015

Using Big Data Drawn from its $45b Marketplace, RBI Data Identifies
The Most Affordable Neighborhoods for First-time Buyers

BALTIMORE, MD—March 12, 2015--First-time home buyers looking for affordable starter homes this spring can choose from a wide variety of local communities and neighbors in the greater Baltimore market, according to a new listing of 20 Home Buyer Hot Spots from RealEstate Business Intelligence (RBI) based on the latest listings on the Mid-Atlantic Regional Listing Service (MRIS).

Though Baltimore is known nationally as a top market, many buyers are unfamiliar with neighborhoods that feature a wide selection of affordable listings because good prices on starter homes can be found in every county as well as Baltimore City.

“Our list of 20 home buyer hot spots is based on the latest listing data at the hyper local level.  We’ve tried to create a road map for buyers that will expand their horizons to include neighborhoods that may not have considered.  Baltimore is full of attractive and affordable neighborhoods to fit every lifestyle” said John Heithaus, chief evangelist for RBI.

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affordable places, baltimore metro, market analysis
25 Affordable Hot Spots in the DC Area
Posted on March 12, 2015 by Corey Hart
Mar

12

2015

Using Big Data Drawn from its $45b Marketplace, RBI Data Identifies
The Most Affordable Neighborhoods for First-time Buyers

WASHINGTON DC—March 12, 20015— First-time home buyers looking for affordable starter homes this spring can choose from a wide variety of local communities and neighbors in the greater Washington DC market, according to a new listing of 25 Home Buyer Hot Spots from RealEstate Business Intelligence (RBI) based on the latest listings on the Mid-Atlantic Regional Listing Service (MRIS).

Often ranked among the nation’s most expensive housing markets, Washington DC is also a mecca for the Millennial generation, many of whom transition from renting to homeownership with the help of affordable homes.

According to a recent Nielsen Study, Washington ranks seventh among cities popular with Millennials and first among East Coast markets and it has been called the fastest growing destination for the Millennial generation. Thousands move to the nation’s capital each year, attracted to its cultural, educational and career opportunities.  

The Washington market also ranks among the top markets in the nation in terms of its median family income, which makes it possible for most Washington area families to qualify for more expensive housing.  According to the Bureau of Labor Statistics, the median income for the Washington Metro is $65,250. To buy a home at $372, 800, with 20 percent down and a 30 year fixed rate mortgage at 3.98 percent, buyers need an annual income of $77,395, according to the National Association of Realtors and mortgage web site HSH.com.

RBI created an index to rank local markets by zip code that incorporates total number of listings below $300,000 and $200,000, saturation of lower priced listings in the hyper local market’s inventory and median price of active listings.

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affordable places, market analysis, press release

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