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Maryland Housing Statistics, June, 2020

By
Industry Observer with Retired

Maryland Housing Statistics, June, 2020

 

This report was provided by Ann Marie Clements.

 

Maryland’s housing market in June rebounded significantly from the drop in sales seen in April and May. June witnessed 8,259 total units sold. While this represents a drop of -6.8 percent from June 2019, it marks a 36.4 percent increase from the total units sold in May. Inventory, however, remains a challenge.

“While inventory continues to tighten, June’s housing statistics demonstrate that the housing market is truly contributing to this economy,” said Maryland REALTORS® President John A. Harrison. “From May to June, average sales prices rose from $365,945 to 377,395. Median sales prices rose as well from $320,000 in May to $330,000 in June.”

According to Harrison, available inventory remains the biggest struggle. Active Inventory dropped in June to 12,153 from May’s total of 13,838, a decrease of 12.2 percent. “On a year-over-year basis, months of inventory dropped from 3.6 in 2019 to 1.7 in 2020. We are seeing multiple offers, sometimes as many as 15 to 20 on available properties.”

In the 2020 Market Recovery Survey from the National Association of REALTORS®, 11 percent of respondents reported that no sellers have returned to the market; 20 percent reported that less than 25 percent of sellers have returned to the market; and 17 percent reported that 25 to 50 percent of sellers have returned.

 

 

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Orchid, Longwood Gardens, Kennett Square, PA USA IMG 8220
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Posted by

Roy Kelley, Retired, Former Associate Broker, RE/MAX Realty Group

Gaithersburg, Maryland  

Comments (16)

Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

We are seeing a big rebound in sales from March and April

Jul 14, 2020 05:29 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

You always add a little something special to all of your blog and reblog posts. I am grateful for the inspiration daily of your photography...

Happy Tuesday to you and Delores, Roy Kelley 

Jul 14, 2020 07:12 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Roy, Active inventory is a concern. Sellers, it's time to get back in the Real Estate market!

Jul 14, 2020 07:35 AM
Myrl Jeffcoat
Sacramento, CA
Greater Sacramento Realtor - Retired

Maryland home buyers and sellers are sure to value Mary's real estate report, Roy.

Jul 14, 2020 04:24 PM