maryland realtors: March 2024 MARYLAND Housing Statistics
- 04/20/24 06:08 AM
The inventory picture is improving and the results from Bright MLS’s most recent survey show that nearly two out of five listings were from a seller who was probably not turning around and buying another home. According to agents surveyed, 61.9% of homes sold in March were primary residences, suggesting a seller who might be in the market to buy. However, the other listings that were added to the inventory were not primary residences. For example, 14.3% of homes sold in March were rental properties. Another 13.5% were estate sales, or the sale of a property whose owner had passed away. Second … (10 comments)
|
maryland realtors: FEBRUARY 2024 MARYLAND Housing Statistics
- 03/21/24 12:02 PM
So far this year limited inventory and strong buyer demand have created many multiple-offer situations. As the spring market kicks into gear we expect to see an increase in the number of new resale listings coming into the market, although it is still below normal. Additionally, with an increase in new listings comes an increase in new buyers ready to purchase.
As we navigate the impending changes in the real estate industry. We understand that changes can be concerning to many, but please know that we are here as a trusted source to help navigate these changes effectively. Whether you're … (4 comments)
|
maryland realtors: January 2024 MARYLAND Housing Statistics
- 03/02/24 09:41 AM
The spring market promises to be a strong one, with the dip in interest rates and overall economic strength, the climate is the brightest it has been in the past few years for those considering buying, selling, investing, or downsizing.
While the number of transactions is below seasonal levels, the low number of new resale listings coming on the market is creating a shortage of available properties in many price ranges in our market area. Pending and sold numbers are down and with the low supply of inventory and the buyer demand in the more affordable and mid-price ranges, home prices are heading … (4 comments)
|
maryland realtors: The Growing Housing Crisis
- 02/19/24 10:56 AM
Recently Maryland REALTORS and Governor Wes Moore brought attention to Maryland's severe shortage of housing. The State's nearly 150,000 unit shortfall will grow even more if not addressed. For the past number of years, the shortage of housing has increased by an average of 5,600 units per year. During the year ending in July 2023, Maryland issued just 15,511 authorizations for new residential construction. This is the fewest in any twelve months since July 2017 and, on a per capita basis, ranks 40th in the nation among all states.
One remedy proposed to address the issue legislatively is the "Housing Expansion Affordability Act … (14 comments)
|
maryland realtors: MARYLAND Annual 2023 Housing Statistics
- 01/23/24 09:35 AM
Hesitant to trade a low-interest rate for a higher one had many would-be sellers sitting on the sidelines for the past year. This was the primary reason for the low, but resilient housing inventory and continued strong demand from buyers. Many of the industry experts are predicting inventory to ease up in 2024 as interest rates level off in the 6.5% to 6% range. This should make many Sellers who have been pondering a move to jump into the market. 2023 was a year of both challenges and opportunities and we would like to express our gratitude for our valued client's continued … (5 comments)
|
maryland realtors: DECEMBER ~2023 ~ MARYLAND Housing Statistics
- 01/18/24 10:51 AM
Home prices continued to climb in December as limited inventory prolongs Buyers slim choices as 2023 wraps up. A majority of Sellers are selling at the asking price or above in about two weeks, and most did not offer concessions. As we move into 2024 news of inflation beginning to subside and an election year on the horizon should bring interest rates down slightly. With real estate being local, it's important to work with a local expert that understands the changing market.
Although a lower number of homes are going under contract and fewer new resale listings are coming on the … (6 comments)
|
maryland realtors: NOVEMBER 2023 MARYLAND Housing Statistics
- 12/27/23 11:45 AM
Prices remain high in our region because demand for homes continues to outpace the supply. Many first-time home buyers have been shut out of the market with mortgage rates that have more than doubled in the past two years increasing from around 3.1 percent to about 7 percent, making it that much pricier to purchase a home. However, the markets are currently obsessed with inflation and the future course of monetary policy. Therefore any news that reinforces the notion that inflation is subsiding and the Fed is done raising interest rates and they begin to fall is being received positively. The holiday season housing … (9 comments)
|
maryland realtors: OCTOBER 2023 MARYLAND Housing Statistics
- 11/16/23 09:55 AM
As we enter the holiday season the housing market is feeling the affects of a normal seasonal cycle with fewer transactions. Inventory remains in short supply as many home owners with sub 4% mortgages are delaying a move. Higher home interest rates have caused Buyer activity to cool down as many have hit an affordability ceiling. It is anticipated prices will continue to increase through next year in many areas and neighborhoods where fewer homes are available and strong buyer activity is present in the affordable and mid-price ranges. Qualified buyers that think waiting for a lower interest rate environment is … (4 comments)
|
maryland realtors: Maryland Housing Statistics ~ September 2023
- 10/22/23 04:17 PM
Frederick County, MD
Industry Watch Q3-2023
Key Metrics Q3-2023 1-Year Change Market Activity
Median Sales Price $475,000 + 5.6%
Avg. Sales Price $505,787 + 3.9%
Closed Sales 1,001 - 27.5%
Months Supply 1.2 - 33.3%
Avg. Prop. Mktg. Period 42 + 38.8%
Pct. of Orig. Price Received 101.3% + 0.9%
Homes for Sale 388 - 49.7%
We are experiencing a market with limited inventory creating a shortage of available properties in many price ranges in our region. Pending and sold numbers are down which … (7 comments)
|
maryland realtors: Maryland Housing Statistics ~ August 2023
- 09/23/23 07:30 AM
There is still a scarcity of supply in the Mid-Atlantic region. but the gap from 2022 levels has narrowed with new listings down just 7.8% from this time last year. In typical years, there is a significant decrease in listings throughout August, but this year, listings have stayed far steadier. Labor Day weekend did not slow down listing activity with the number of new listings up 2.6% from a week earlier. The median list price reported by Bright MLS made a jump for the week ending September 3rd, it was $395,000, a 2.6% increase. The list price is also up 5.3% … (3 comments)
|
maryland realtors: JUNE 2023 Maryland Housing Statistics
- 07/24/23 08:15 AM
Maryland Home Sales Continue to Fall Across All Counties As Sales Prices Continue Their Rise in the June 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—July 19, 2023—Home sales in Maryland dropped substantially by 21.7% to 6,938 units in June 2023 against June 2022 sales of 8,857, according to the June 2023 Maryland REALTORS® Housing Statistics. Prices continued their climb, with the average sales price rising 2.9% to $501,346 versus last year’s figure of $487,085. The median sales price rose 1.3% to $415,148. Units pending (houses under contract) dropped 11.7% to 6,854 from 7,758 units in June 2022. Fewer houses under contract reflects the lack of … (6 comments)
|
maryland realtors: May 2023 Maryland Housing Statistics
- 06/15/23 11:33 AM
Maryland Home Sales Continue to Fall as Sales Prices Remain Resilientin the May 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—June 15, 2023—Home sales in Maryland dropped 24.2% to 6,657 units in May 2023, versus 8,781 units last year, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price grew 0.5% to $486,112 while median sales price increased 1.5% to $411,000. Lack of inventory continues to keep prices stable, even rising slightly, in this current market. The drops in new listings (a 32.4% decrease to 7,299 units) and active inventory (down 21% to 7,891 units, the largest decline since … (4 comments)
|
maryland realtors: JULY 2023 Maryland Housing Statistics
- 05/25/23 07:51 AM
Maryland’s Ongoing Lack of Housing Inventory Amidst Rising Prices Remains the Prominent Focus in the July 2023 Maryland REALTORS® Housing Stats ANNAPOLIS, MD—August 17, 2023—The number of home sales in Maryland continued to decline in the July 2023 Maryland REALTORS® Housing Statistics report, dropping 22.6% to 5,915 units versus July 2022’s figure of 7,643 units. The average sales price grew by 3.2% to $486,385, while the median sales price rose 4% to $414,900. As in months past, July’s housing statistics point to a market with low inventory and fewer sales amidst steadily increasing prices, which is further … (3 comments)
|
maryland realtors: April 2023 Maryland Housing Statistics
- 05/15/23 11:32 AM
Maryland REALTOR® Housing Stats for April 2023:Sales Continue Their Fall as Prices Rise Slightly ANNAPOLIS, MD—May 15, 2023—Home sales in Maryland dropped 33.8% year over year to 5,456 units in April 2023, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price grew 0.8% to $467,986, while median sales price increased 1.7% to $396,500. The primary reason for the rise in prices, despite the activity slowdown, remains a lack of inventory, which is hovering around one month’s supply. In a balanced market. 6 months of inventory is considered a balanced market. While Units Pending (homes under contract) is down 21.0% to 6,857 units and Active Inventory … (4 comments)
|
maryland realtors: REALTOR® National Block Party ~ Well attended
- 05/11/23 05:18 PM
On Tuesday there was a sea of REALTOR® blue at Nationals Park in Washington DC for the REALTOR® National Block Party. Agents from across the nation met with their members of Congress and their staffers at the ballpark. One of the hot-button issues NAR was pushing back against was the series of changes to the LLPA fees announced by the FHF. Yesterday, the FHFA decided to rescind the controversial Debt to Income LLPA. The other priority issues discussed were to address America's housing shortage. Inventory, supply, and affordable housing are at the top of this year's REALTOR® Priorities. * Incentivize … (16 comments)
|
maryland realtors: March 2023 Maryland Housing Statistics
- 04/21/23 07:19 AM
Maryland Home Sales Continue to Fall in the March 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—April 13, 2023—Home sales in Maryland dropped 27.4% to 5,709 units in March 2023, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price grew just 0.7% to $444,752, while median sales price increased 1.2% to $380,000. Further signs of a softening market can be seen in Units Pending (homes under contract), which fell 22% to 6,804. Active Inventory dropped 8.6% to 7,445 units, while the number of new listings entering the market dropped by 34% to 6,855. All three indicators—Units Pending, … (5 comments)
|
maryland realtors: FEBRUARY 2023 ~ MARYLAND HOUSING STATISTICS
- 03/19/23 06:32 AM
Maryland Home Sales Continue to Drop Amidst Signs of Improvement in theFebruary 2023 Maryland REALTOR® Housing Stats ANNAPOLIS, MD—March 16, 2023—Maryland home sales dropped 27.9% to 4,268 units in February 2023 against 2022’s figure of 5,923 units, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price rose 3.7% to $432,529, while the median sales price increased 4.2% to $375,000, continuing the trend of rising prices amidst a shortage of homes on the market. There are some encouraging signs, however. Two months into 2023 has shown an improvement over sales from December 2022. While the number of units sold is down, the … (6 comments)
|
maryland realtors: JANUARY 2023 ~ MARYLAND HOUSING STATISTICS
- 02/15/23 05:14 AM
Maryland Home Sales Fell 37.7% According to theJanuary 2023 Maryland REALTORS® Housing Statistics Report ANNAPOLIS, MD—February 13, 2023—Maryland home sales dropped 37.7% to 3,681 units in January 2023 against 2022’s figure of 5,907 units, according to the latest Maryland REALTORS® Housing Statistics Report. The average sales price rose 2.3% to $419,587, while the median sales price increased 1.6% to $360,000. While sales are down overall—pending sales decreased 16.46% to 5,332 units, active inventory decreased 1.62% to 7,793 units, and new listings decreased 10.16% to 5,845 units—the decrease in January was not as dramatic as the previous three months’ decreases. According to Yolanda Muckle, … (8 comments)
|
maryland realtors: MARYLAND Annual 2022 Housing Statistics
- 01/20/23 03:39 AM
Maryland REALTORS® Releases 2022 Year-End Housing Statistics
In 2022, Maryland’s home sales fell 21.2% to 84,658 units, versus 2021’s figure of 107,407, while the average sales price rose 6.3% to 453,759 and the median sales price rose 6.5% to $385,000. For most of this year, Marylanders witnessed home sales falling as sales prices climbed less and less. Other signs that point to a slowdown in 2022 include a drop in Units Pending—houses under contract—to 82,199, a 22.3% decline from 2021’s figure of 105,728. The number of New Listings fell 16.7% to 101,860. “While 2022 wasn’t a picnic, homes are continuing to retain their value … (15 comments)
|
maryland realtors: DECEMBER ~2022 ~ MARYLAND Housing Statistics
- 01/18/23 09:38 AM
Maryland Home Sales Fell 41.9% in December 2022 and 21.2% for the Year,According to the latest Maryland REALTORS® Housing Statistics Report
ANNAPOLIS, MD—January 17, 2023—Maryland home sales dropped 41.9% to 5,124 units in December 2022, against 2021’s figure of 8,818 units, according to the latest Maryland REALTORS® Housing Statistics Report. Home sales prices rose incrementally, with the average sales price rising 0.2% to $433,018 and the median sales price rising similarly, 0.3% to $370,250. In addition to unit sales and prices, all other indicators point to a year-end market slowdown. Pending sales—houses under contract—fell 27% to 4,218. Active Inventory—homes available for sale—slipped 9.7% … (3 comments)
|
|
|
|
;)
;)
;)
