The Long & Foster Market Minute

Focus On: Baltimore Metro Housing Market September 2019

Units Sold
3,331
Active Inventory
10,883
Median Sale Price
$295,000
Days On Market
44
Up 7%
Vs. Year Ago
Down -11%
Vs. Year Ago
Up 7%
Vs. Year Ago
No Change
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 3,331 sold this month in Baltimore Metro Real Estate versus 4,064 last month, a decrease of 18%. This month's total units sold was higher than at this time last year, an increase of 7% versus September 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 1,352 units or 11%. The total number of active inventory this September was 10,883 compared to 12,235 in September 2018. This month's total of 10,883 is lower than the previous month's total supply of available inventory of 12,171, a decrease of 11%.

Median Sale Price
Last September, the median sale price for Baltimore Metro Homes was $275,000. This September, the median sale price was approximately the same at $295,000. The current median sold price is 7% higher than in September 2018.

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


New Listings
4,985
Current Contracts
3,716
Sold Vs. List Price
98.5%
Months of Supply
3.3
Up 6%
Vs. Year Ago
Up 28%
Vs. Year Ago
No Change
Vs. Year Ago
Down -17%
Vs. Year Ago

Months of Supply
In September, there was 3.3 months of supply available in Baltimore Metro, compared to 3.9 in September 2018. That is a decrease of 17% 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 4,985 homes newly listed for sale in Baltimore Metro compared to 4,693 in September 2018, an increase of 6%. There were 3,716 current contracts pending sale this September compared to 2,910 a year ago. The number of current contracts remained stable as compared to last September.

Sale Price to List Price Ratio
In September, the average sale price in Baltimore Metro was 98.5% 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 44, which is similar compared to a year ago.

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.