The Long & Foster Market Minute

Focus On: Baltimore City Housing Market March 2021

Units Sold
956
Active Inventory
1,224
Median Sale Price
$190,000
Days On Market
41
Up 32%
Vs. Year Ago
Down -57%
Vs. Year Ago
Up 11%
Vs. Year Ago
Down -36%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 956 sold this month in Baltimore City Real Estate versus 784 last month, an increase of 22%. This month's total units sold was higher than at this time last year, an increase of 32% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,622 units or 57%. The total number of active inventory this March was 1,224 compared to 2,846 in March 2020. This month's total of 1,224 is lower than the previous month's total supply of available inventory of 1,386, a decrease of 12%.

Median Sale Price
Last March, the median sale price for Baltimore City Homes was $171,000. This March, the median sale price was $190,000, an increase of 11% or $19,000 compared to last year. The current median sold price is 6% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
1,400
Current Contracts
1,286
Sold Vs. List Price
100.0%
Months of Supply
1.3
Up 11%
Vs. Year Ago
Up 59%
Vs. Year Ago
Up 1.6%
Vs. Year Ago
Down -67%
Vs. Year Ago

Months of Supply
In March, there was 1.3 months of supply available in Baltimore City, compared to 3.9 in March 2020. That is a decrease of 67% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 1,400 homes newly listed for sale in Baltimore City compared to 1,262 in March 2020, an increase of 11%. There were 1,286 current contracts pending sale this March compared to 810 a year ago. The number of current contracts is 59% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Baltimore City was 100.0% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 41, lower than the average last year, which was 64, a decrease of 36%.

The Long & Foster Market Minute
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.