The Long & Foster Market Minute

Focus On: Baltimore City Housing Market July 2019

Units Sold
776
Active Inventory
3,150
Median Sale Price
$176,725
Days On Market
61
Down -11%
Vs. Year Ago
Down -7%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 17%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in July, with 776 sold this month in Baltimore City Real Estate versus 887 last month, a decrease of 13%. This month's total units sold was lower than at this time last year, a decrease of 11% versus July 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 255 units or 7%. The total number of active inventory this July was 3,150 compared to 3,405 in July 2018. This month's total of 3,150 is lower than the previous month's total supply of available inventory of 3,618, a decrease of 13%.

Median Sale Price
Last July, the median sale price for Baltimore City Homes was $160,000. This July, the median sale price was $176,725, an increase of 10% or $16,725 compared to last year. The current median sold price is 7% lower than in June.

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


New Listings
1,242
Current Contracts
946
Sold Vs. List Price
98.3%
Months of Supply
4.1
Up 2%
Vs. Year Ago
Up 33%
Vs. Year Ago
No Change
Vs. Year Ago
Up 4%
Vs. Year Ago

Months of Supply
In July, there was 4.1 months of supply available in Baltimore City, compared to 3.9 in July 2018. That is an increase of 4% 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 1,242 homes newly listed for sale in Baltimore City compared to 1,218 in July 2018, an increase of 2%. There were 946 current contracts pending sale this July compared to 713 a year ago. The number of current contracts is 33% higher than last July.

Sale Price to List Price Ratio
In July, the average sale price in Baltimore City was 98.3% 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 61, higher than the average last year, which was 52, an increase of 17%.

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.