DECEMBER ~2022 ~ MARYLAND Housing Statistics

Real Estate Broker/Owner with Mackintosh REALTORS 82894
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% to 8,172. Median Days on Market expanded to 16 days. 
“This market hasn’t been easy for the consumer, and affordability issues aren’t helped when the 30-year fixed rate—6.48% now—is more than double what it was last December,” said Yolanda Muckle, 2023 President, Maryland REALTORS®. “As an association, we are working hard to increase housing opportunity and we will be discussing a variety of solutions, such as Accessory Dwelling Units, with Maryland lawmakers in Annapolis.”

Although a lower number of homes are going under contract and fewer new resale listings are coming on the market, the sales activity for new resale listings going under contract within a couple of weeks remains resilient. I have guided valued clients through market balancing times like these for over 37 years, delivering trusted expertise and exceptional results every step of the way. Whether you're seeking to better understand the current market or are considering a move I invite you to contact me to discuss your real estate needs. 

CALL / TEXT 301-748-3696 ~

Comments (3)

Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Great report, Buzz... I haven't fully studied the entire Charlotte region numbers as yet for 2022... but one thing I know is that our new listings continue to decline much as yours are doing.

Jan 19, 2023 04:33 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I always enjoy the infographics a bit more since they tell the story in an easy-to-understand format.

Jan 19, 2023 05:49 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

Nice housing stats. It looks as if for the most part your area is holding its own. 

Jan 19, 2023 08:59 AM