The Long & Foster Market Minute

Focus On: Baltimore Metro Housing Market March 2021

Units Sold
3,772
Active Inventory
2,972
Median Sale Price
$315,000
Days On Market
27
Up 11%
Vs. Year Ago
Down -65%
Vs. Year Ago
Up 7%
Vs. Year Ago
Down -47%
Vs. Year Ago

Units Sold
There was an increase in total units sold in March, with 3,772 sold this month in Baltimore Metro Real Estate versus 3,011 last month, an increase of 25%. This month's total units sold was higher than at this time last year, an increase of 11% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 5,539 units or 65%. The total number of active inventory this March was 2,972 compared to 8,511 in March 2020. This month's total of 2,972 is lower than the previous month's total supply of available inventory of 3,430, a decrease of 13%.

Median Sale Price
Last March, the median sale price for Baltimore Metro Homes was $295,000. This March, the median sale price was $315,000, an increase of 7% or $20,000 compared to last year. The current median sold price is 5% higher than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
5,149
Current Contracts
4,893
Sold Vs. List Price
100.5%
Months of Supply
0.8
No Change
Vs. Year Ago
Up 31%
Vs. Year Ago
Up 1.4%
Vs. Year Ago
Down -68%
Vs. Year Ago

Months of Supply
In March, there was 0.8 months of supply available in Baltimore Metro, compared to 2.5 in March 2020. That is a decrease of 69% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 5,149 homes newly listed for sale in Baltimore Metro, which is similar to the amount in March 2020. There were 4,893 current contracts pending sale this March compared to 3,729 a year ago. The number of current contracts is 31% higher than last March.

Sale Price to List Price Ratio
In March, the average sale price in Baltimore Metro was 100.5% of the average list price, which is 1.4% higher than at this time last year.

Days on Market
This month, the average number of days on market was 27, lower than the average last year, which was 51, a decrease of 47%.

The Long & Foster Market Minute *Defined as the counties of Anne Arundel, Baltimore, Carroll, Harford, and Howard and Baltimore City in MD
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.