The Long & Foster Market Minute

Focus On: Baltimore City Housing Market April 2020

Units Sold
674
Active Inventory
2,308
Median Sale Price
$175,500
Days On Market
52
Down -19%
Vs. Year Ago
Down -33%
Vs. Year Ago
Up 14%
Vs. Year Ago
Down -7%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in April, with 674 sold this month in Baltimore City Real Estate versus 723 last month, a decrease of 7%. This month's total units sold was lower than at this time last year, a decrease of 19% versus April 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,160 units or 33%. The total number of active inventory this April was 2,308 compared to 3,468 in April 2019. This month's total of 2,308 is lower than the previous month's total supply of available inventory of 2,614, a decrease of 12%.

Median Sale Price
Last April, the median sale price for Baltimore City Homes was $154,000. This April, the median sale price was $175,500, an increase of 14% or $21,500 compared to last year. The current median sold price is 3% higher than in March.

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


New Listings
885
Current Contracts
761
Sold Vs. List Price
98.6%
Months of Supply
3.4
Down -43%
Vs. Year Ago
Down -19%
Vs. Year Ago
No Change
Vs. Year Ago
Down -18%
Vs. Year Ago

Months of Supply
In April, there was 3.4 months of supply available in Baltimore City, compared to 4.2 in April 2019. That is a decrease of 18% 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 885 homes newly listed for sale in Baltimore City compared to 1,554 in April 2019, a decrease of 43%. There were 761 current contracts pending sale this April compared to 943 a year ago. The number of current contracts is 19% lower than last April.

Sale Price to List Price Ratio
In April, the average sale price in Baltimore City was 98.6% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 52, lower than the average last year, which was 56, a decrease of 7%.

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.