MARCH 2021 MARYLAND Housing Statistics

Reblogger
Real Estate Agent with Realty Group Referrals 16766
Original content by Buzz Mackintosh 82894
Median Days on Market Continues to Shrink Amidst Robust Home Sales in the March 2021 Housing Statistics
 
 
ANNAPOLIS, MD – April 12, 2021
 
Maryland’s housing market continued its strong sales pace in 2021 with March sales figures of 7,964 units sold, which outpaced the previous year’s sales of 7,148 by 11.4%. The average sales price, $404,606, reflected an increase of 11.3% from March 2020, while the March 2021 median sales price of $342,500 outpaced the previous year by 8.7%. An indicator of how fast the market is moving, median days on market, dropped to just 7 days in March.
 
Housing inventory, or the lack thereof, remains the overarching concern with the current market. For the first three months of 2021, months of inventory has remained at 0.8, while the pool of active inventory has continued to shrink. March 2021’s active inventory was recorded at 6,202—a shadow of March 2020’s active inventory, which stood at 19,061.
 
“Home sales are continuing at a formidable pace. Even pending units—houses under contract—are up substantially, at 10,337, an increase of 35.4% from last year,” said Dee Dee Miller, 2021 President, Maryland REALTORS®, “but yes, the concern remains with available inventory. With fewer homes available to sell, it’s driving the price up, which is good for sellers, but it could drive some potential buyers out of the market. The number of new listings showed a small increase, from 10,441 in March 2020 to 10,970 in 2021 but this is not likely to have a significant impact on other factors driving this market.”
 
In a recent post on LinkedIn, Dr. Lawrence Yun, Chief Economist for the National Association of REALTORS® (NAR), stated, “Today’s market is so hot and so rare that over a half of homes are being sold above the listed price in some states. After this current real estate cycle, I do not ever expect to see another frenzy [of] multiple offers in my lifetime.” From NAR data, 42% of the existing homes sold in Maryland were sold above the list price. 
 
 
 
 
Maryland monthly housing statistics are compiled by data as reported by 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 the real eastate market inventory in Frederick County is at an all time low which makes this one of the best seller's markets I have seen since 2005.Feel free to contact me if you have any real estate questions or considering selling or purchasing a property soon.
 

(240)529-0176 Office

 

 

 

 

 

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Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

Comments (9)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Roy - looks like the same picture everywhere.  Thanks for sharing the blog.

Apr 16, 2021 03:12 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Please be sure to leave comments at the original blog.

Apr 16, 2021 04:03 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Good morning Roy! Wow, it is amazing just what has happened in the last 15 months

Apr 16, 2021 06:55 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Roy, great stats to show for potential buyers and sellers.   We have around 2,000 listings right now in the Denver metro area.  SO low! 

Apr 16, 2021 07:03 AM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Roy,

Maryland is showing the same stats as most markets in the US.  And we are witnessing the law of supply and demand.  Happy Friday.  A

Apr 16, 2021 07:09 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Good Morning Roy and thanks for the reblog on the market report for the area.  Make it a great day!

 

Apr 16, 2021 07:33 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

Great to read how well the Maryland housing market is doing. Terrific time for sellers to get their homes listed!

Apr 16, 2021 11:44 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Your feedback is always appreciated. Have an outstanding week.

Apr 19, 2021 04:48 AM