January 2019 MARYLAND Housing Statistics

By
Real Estate Broker/Owner with Mackintosh REALTORS 82894


 

 

   MARYLAND HOME PRICES MADE SIGNIFICANT GAINS IN JANUARY 

 

 

Annapolis, MD, (February 27, 2019) -
 
Residential home prices made significant gains in January compared to the same period in 2018, according to housing statistics released by Maryland REALTORS®. Average home prices rose by 5.1 percent while median prices rose by 5.0 percent as compared to the same time in 2018.
 
"The average residential home and median sale prices both made significant gains in January," said Maryland REALTORS® President Merry Tobin. 

"The months of available inventory also increased to 4.6 months in January," continued Tobin. A 6 to 6.5-month supply is considered to be a balanced market.

While average and median prices increased, January saw a decrease of 16.8 percent in units sold.

The January statewide median sales price was $275,000 compared to $262,000 in 2018. This represents an increase of 5.0 percent.

Pending units decreased from 6,521 to 6,533 compared to the same time in 2018. Whether this indicates a slowing market will be borne out over the next several months.
 
The Average Sale Price compared to Original List Price for January increased slightly from 95.4 percent from 95.1 percent from 2018 to 2019. 
  
Maryland monthly housing statistics are compiled by data as reported by MRIS/Bright MLS. For the purposes of this report, "units" are defined as the closed sales and "pending units" are properties under contract. Months of inventory are based on the current active inventory and monthly sales for the corresponding month.
 
NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT.

*Months of inventory based on current active inventory and monthly sales for the corresponding month; Data are revised on a regular basis. Readers of these reports should note that older reports have not been adjusted to reflect these revised data. This report, however, contains the latest reliable data to date.
 
**Maryland REALTORS® publishes the Maryland Housing Statistics monthly; it is available through the Association's website, www.mdrealtor.org.
 
 
If you are considering selling a property now would be the ideal time to beat the spring time rush. Feel free to contact me if you have any real estate questions or considering selling or purchasing a property soon.
 
 

 

 

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Rainer
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Feb 28, 2019 01:29 PM #1
Rainmaker
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Morgan Evans
Douglas Elliman Real Estate - Manhattan, NY
LICENSED REAL ESTATE SALESPERSON

Prices increases of 5% over a one year period sounds like a nice growth for your sellers.  Love a good market report!!

Mar 01, 2019 06:12 AM #2
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Rainmaker
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Buzz Mackintosh

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