The Long & Foster Market Minute

Focus On: Baltimore City Housing Market September 2019

Units Sold
695
Active Inventory
3,282
Median Sale Price
$150,000
Days On Market
49
Up 3%
Vs. Year Ago
Down -9%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -11%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 695 sold this month in Baltimore City Real Estate versus 818 last month, a decrease of 15%. This month's total units sold was higher than at this time last year, an increase of 3% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 311 units or 9%. The total number of active inventory this September was 3,282 compared to 3,593 in September 2018. This month's total of 3,282 is lower than the previous month's total supply of available inventory of 3,645, a decrease of 10%.

Median Sale Price
Last September, the median sale price for Baltimore City Homes was $140,000. This September, the median sale price was $150,000, an increase of 7% or $10,000 compared to last year. The current median sold price is 3% lower than in August.

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


New Listings
1,316
Current Contracts
857
Sold Vs. List Price
98.7%
Months of Supply
4.7
Up 11%
Vs. Year Ago
Up 37%
Vs. Year Ago
Up 0.7%
Vs. Year Ago
Down -12%
Vs. Year Ago

Months of Supply
In September, there was 4.7 months of supply available in Baltimore City, compared to 5.3 in September 2018. That is a decrease of 12% 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 1,316 homes newly listed for sale in Baltimore City compared to 1,185 in September 2018, an increase of 11%. There were 857 current contracts pending sale this September compared to 624 a year ago. The number of current contracts is 37% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Baltimore City was 98.7% of the average list price, which is 0.7% higher than at this time last year.

Days on Market
This month, the average number of days on market was 49, lower than the average last year, which was 55, a decrease of 11%.

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.