The Long & Foster Market Minute

Focus On: Baltimore City Housing Market May 2022

Units Sold
1,032
Active Inventory
1,609
Median Sale Price
$230,550
Days On Market
21
Down -3%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down -16%
Vs. Year Ago

Units Sold
The number of units sold remained stable in May, with 1,032 sold this month in Baltimore City Real Estate. This month's total units sold was lower than at this time last year, a decrease of 11% versus May 2021.

Active Inventory
Versus last year, the total number of homes available this month is lower by 140 units or 8%. The total number of active inventory this May was 1,609 compared to 1,749 in May 2021. This month's total of 1,609 is higher than the previous month's total supply of available inventory of 1,596, an increase of 1%.

Median Sale Price
Last May, the median sale price for Baltimore City Homes was $222,000. This May, the median sale price was $230,550, an increase of 4% or $8,550 compared to last year. The current median sold price is 3% higher than 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
1,313
Current Contracts
1,005
Sold Vs. List Price
102.9%
Months of Supply
1.6
Down -11%
Vs. Year Ago
Down -8%
Vs. Year Ago
Up 1.5%
Vs. Year Ago
No Change
Vs. Year Ago

Months of Supply
In May, there was 1.6 months of supply available in Baltimore City. 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 1,313 homes newly listed for sale in Baltimore City compared to 1,468 in May 2021, a decrease of 11%. There were 1,005 current contracts pending sale this May compared to 1,090 a year ago. The number of current contracts is 8% lower than last May.

Sale Price to List Price Ratio
In May, the average sale price in Baltimore City was 102.9% of the average list price, which is 1.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 21, lower than the average last year, which was 25, a decrease of 16%.

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.