The Long & Foster Market Minute

Focus On: Baltimore City Housing Market May 2020

Units Sold
644
Active Inventory
2,163
Median Sale Price
$175,000
Days On Market
51
Down -17%
Vs. Year Ago
Down -40%
Vs. Year Ago
No Change
Vs. Year Ago
Up 6%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in May, with 644 sold this month in Baltimore City Real Estate versus 698 last month, a decrease of 8%. This month's total units sold was lower than at this time last year, a decrease of 17% versus May 2019.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,459 units or 40%. The total number of active inventory this May was 2,163 compared to 3,622 in May 2019. This month's total of 2,163 is lower than the previous month's total supply of available inventory of 2,521, a decrease of 14%.

Median Sale Price
Last May, the median sale price for Baltimore City Homes was $175,000. This May, the median sale price was approximately the same at $175,000. The current median sold price is also similar to the median price in April.

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


New Listings
987
Current Contracts
995
Sold Vs. List Price
99.1%
Months of Supply
3.4
Down -34%
Vs. Year Ago
Up 5%
Vs. Year Ago
No Change
Vs. Year Ago
Down -28%
Vs. Year Ago

Months of Supply
In May, there was 3.4 months of supply available in Baltimore City, compared to 4.7 in May 2019. That is a decrease of 28% 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 987 homes newly listed for sale in Baltimore City compared to 1,503 in May 2019, a decrease of 34%. There were 995 current contracts pending sale this May compared to 951 a year ago. The number of current contracts is 5% higher than last May.

Sale Price to List Price Ratio
In May, the average sale price in Baltimore City was 99.1% 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 51, higher than the average last year, which was 48, an increase of 6%.

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.