The Long & Foster Market Minute

Focus On: Baltimore City Housing Market March 2019

Units Sold
628
Active Inventory
2,895
Median Sale Price
$150,000
Days On Market
67
Down -21%
Vs. Year Ago
Down -11%
Vs. Year Ago
No Change
Vs. Year Ago
Up 12%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 628 sold this month in Baltimore City Real Estate versus 557 last month, an increase of 13%. This month's total units sold was lower than at this time last year, a decrease of 21% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 364 units or 11%. The total number of active inventory this March was 2,895 compared to 3,259 in March 2018. This month's total of 2,895 is lower than the previous month's total supply of available inventory of 3,122, a decrease of 7%.

Median Sale Price
Last March, the median sale price for Baltimore City Homes was $150,500. This March, the median sale price was $150,000, which is similar compared to a year ago. The current median sold price is 20% lower 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
1,401
Current Contracts
990
Sold Vs. List Price
98.4%
Months of Supply
4.6
Down -2%
Vs. Year Ago
Up 20%
Vs. Year Ago
No Change
Vs. Year Ago
Up 12%
Vs. Year Ago

Months of Supply
In March, there was 4.6 months of supply available in Baltimore City, compared to 4.1 in March 2018. That is an increase 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 1,401 homes newly listed for sale in Baltimore City compared to 1,431 in March 2018, a decrease of 2%. There were 990 current contracts pending sale this March compared to 826 a year ago. The number of current contracts is 20% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Baltimore City was 98.4% 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 67, higher than the average last year, which was 60, an increase of 12%.

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.