Central Maryland Housing Market – October 2017

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Baltimore Metro Area – Housing Market Overview

  • The Baltimore Metro area median sales price of $260,000 was up 2.8% or $7,000 from both last year and last month.  It was the highest October price level of the last decade.
  • Sales volume across the Baltimore Metro area was nearly $912 million, up 0.5% from last year.
  • Closed sales of 3,097 were up 1.2% compared to last year, the highest October level in a decade.
  • New contract activity of 3,677 was up 7.3% from last year and up 6.2% from last month, also at the highest October level of the decade.
  • There were 4,677 new listings, up 8.1% from last year, but down 2.1% from last month.
  • Active listings declined by 11.3% to 10,612, the 26th consecutive month of declining year-over-year inventory levels and the lowest October levels in a decade.
  • The average percentage of original list price received at sale in October was 95.4%, up from last year’s 94.8% but down from last month’s 95.5%; the highest October level of the decade.
  • The median days-on-market was 32 days, down eight days from last year.

To see the full Baltimore Area Housing Report in PDF you can go to Baltimore Housing Report 

About the Baltimore Metro Housing Market Update

The Baltimore Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime’s proprietary database. The Baltimore Metro Area housing market includes the City of Baltimore, Anne Arundel County, Baltimore County, Carroll County, Harford County and Howard County in Maryland. Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.

About Elliot Eisenberg

Elliot Eisenberg, Ph.D. is the Chief Economist of GraphsandLaughs, LLC, a firm specializing in economic consulting and data analysis.  He is a frequent speaker on topics including: economic forecasts, economic impact of industries such as homebuilding and tourism, consequences of government regulation, economic development and other current economic issues. Dr. Eisenberg earned a B.A. in economics with first class honors from McGill University in Montreal, as well as a Masters and Ph.D. in public administration from Syracuse University. Eisenberg was formerly a Senior Economist with the National Association of Home Builders in Washington, D.C.   He is a regularly featured guest on cable news programs, talk and public radio, writes a syndicated column and authors a daily 70 word commentary on the economy that is available at www.econ70.com.

About Bright MLS

The Bright MLS real estate service area spans 40,000 square miles throughout the Mid-Atlantic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C. and West Virginia. As a leading Multiple Listing Service (MLS), Bright serves approximately 85,000 real estate professionals who in turn serve over 20 million consumers. For more information, please visit www.brightmls.com.