The Long & Foster Market Minute

Focus On: Baltimore Metro Housing Market March 2019

Units Sold
2,807
Active Inventory
8,810
Median Sale Price
$265,000
Days On Market
62
Down -12%
Vs. Year Ago
Down -10%
Vs. Year Ago
No Change
Vs. Year Ago
Up 3%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 2,807 sold this month in Baltimore Metro Real Estate versus 2,286 last month, an increase of 23%. This month's total units sold was lower than at this time last year, a decrease of 12% versus March 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 986 units or 10%. The total number of active inventory this March was 8,810 compared to 9,796 in March 2018. This month's total of 8,810 is lower than the previous month's total supply of available inventory of 9,227, a decrease of 5%.

Median Sale Price
Last March, the median sale price for Baltimore Metro Homes was $264,500. This March, the median sale price was $265,000, which is similar compared to a year ago. The current median sold price is 6% higher 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
5,628
Current Contracts
4,282
Sold Vs. List Price
98.6%
Months of Supply
3.1
Up 1%
Vs. Year Ago
Up 14%
Vs. Year Ago
No Change
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In March, there was 3.1 months of supply available in Baltimore Metro. The amount of supply is similar compared to 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 5,628 homes newly listed for sale in Baltimore Metro compared to 5,568 in March 2018, an increase of 1%. There were 4,282 current contracts pending sale this March compared to 3,753 a year ago. The number of current contracts is 14% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Baltimore Metro 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 62, higher than the average last year, which was 60, an increase of 3%.

The Long & Foster Market Minute *Defined as the counties of Anne Arundel, Baltimore, Carroll, Harford, and Howard and Baltimore City in MD
*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.