SECOND QUARTER STARTS WITH A ROBUST NUMBERS

WASHINGTON, D.C. – May 27, 2015 – (RealEstateRama) — Existing homes sales in Maryland surged more than 20 percent in April, compared to April 2014, according to the Maryland Association of REALTORS® (MAR). Pending units, homes under contract, also rose significantly, by almost 20 percent, indicating a continued strong market as summer approaches. Active inventory rose slightly, while months of inventory—the supply of homes available for sale, dropped again, to 4.8 months. Six months of inventory is considered ideal.

Average price declined 2.4 percent, and median price declined by 1 percent, spurring renewed interest by consumers, who also saw mortgage rates rise during the month.

“April is traditionally the beginning of the spring selling season for residential sales, but this is an exceptionally strong market,”  said MAR President Janice Kirkner.  “Clearly homebuyers are seriously shopping, and there is some pent up demand across the state.”

Maryland monthly housing statistics are compiled by data as reported by MRIS and the Coastal Association of REALTORS®. 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.
*MAR publishes the Maryland Housing Statistics monthly; it is available through the Association’s website, www.mdrealtor.org.

The Maryland Association of REALTORS® is the largest Maryland professional trade association, serving over 22,000 members, and is dedicated to preserving the vitality of the real estate market. REALTOR® is a registered collective membership mark which may only be used by those real estate professionals who subscribe to the REALTOR® organization’s strict Code of Ethics, and who are members of the National, State and Local REALTOR® organizations.

Housing Statistics: April 2015

Apr-15 Units Average Price Median Price Pending Units Active Inventory Months of Inventory
2015 2014 % Chg 2015 2014 % Chg 2015 2014 % Chg 2015 2014 2015 2014 2015 2014
Allegany 43 35 22.9% $95,484 $79,751 19.7% $79,900 $60,000 33.2% 63 54 565 532 13.1 15.2
Anne Arundel 629 530 18.7% $350,869 $374,775 -6.4% $300,000 $307,700 -2.5% 924 846 3042 2800 4.8 5.3
Baltimore City 684 574 19.2% $146,535 $159,370 -8.1% $102,750 $119,700 -14.2% 1024 828 3212 3185 4.7 5.5
Baltimore County 740 596 24.2% $241,019 $252,430 -4.5% $205,000 $212,250 -3.4% 1191 942 2986 2862 4.0 4.8
Calvert 126 88 43.2% $297,288 $306,194 -2.9% $280,000 $261,075 7.2% 163 142 780 740 6.2 8.4
Caroline 35 33 6.1% $158,501 $153,682 3.1% $180,000 $145,000 24.1% 44 42 286 310 8.2 9.4
Carroll 200 130 53.8% $288,550 $273,593 5.5% $286,750 $263,000 9.0% 283 223 880 773 4.4 5.9
Cecil 99 62 59.7% $206,252 $204,024 1.1% $175,000 $185,000 -5.4% 126 117 757 844 7.6 13.6
Charles 160 102 56.9% $260,557 $254,823 2.3% $235,000 $239,450 -1.9% 304 221 843 824 5.3 8.1
Dorchester 39 29 34.5% $129,310 $137,773 -6.1% $100,000 $120,000 -16.7% 40 37 348 378 8.9 13.0
Frederick 289 260 11.2% $282,638 $286,080 -1.2% $248,000 $255,200 -2.8% 486 385 1161 992 4.0 3.8
Garrett 30 24 25.0% $316,514 $423,225 -25.2% $262,500 $297,500 -11.8% 48 34 505 559 16.8 23.3
Harford 248 174 42.5% $254,610 $254,176 0.2% $234,600 $222,375 5.5% 422 314 1385 1340 5.6 7.7
Howard 295 272 8.5% $418,302 $434,447 -3.7% $390,000 $381,975 2.1% 543 428 1154 1005 3.9 3.7
Kent 22 9 144.4% $177,261 $280,267 -36.8% $153,500 $275,000 -44.2% 25 26 374 386 17.0 42.9
Montgomery 1016 871 16.6% $514,000 $516,433 -0.5% $405,450 $400,000 1.4% 1527 1386 2950 2414 2.9 2.8
Prince George’s 724 633 14.4% $237,218 $222,107 6.8% $222,100 $216,000 2.8% 1205 1050 1786 1631 2.5 2.6
Queen Anne’s 57 51 11.8% $300,097 $351,233 -14.6% $269,000 $282,000 -4.6% 102 79 679 626 11.9 12.3
Somerset 18 17 5.9% $71,767 $121,582 -41.0% $51,500 $110,000 -53.2% 20 12 222 246 12.3 14.5
St. Mary’s 94 73 28.8% $226,651 $281,018 -33.5% $219,250 $254,000 -13.7% 148 140 773 707 8.2 9.7
Talbot 53 45 17.8% $411,153 $347,304 18.4% $252,000 $265,000 -4.9% 69 64 570 558 10.8 12.4
Washington 137 133 3.0% $176,511 $178,987 -1.4% $149,900 $160,500 -6.6% 225 166 857 810 6.3 6.1
Wicomico 82 83 -1.2% $152,270 $146,156 16.4% $139,500 $133,400 46.8% 124 86 574 590 7.0 7.1
Worcester 170 161 5.6% $267,157 $259,024 2.9% $225,000 $216,000 0.5% 215 176 1785 1898 10.5 11.8
MARYLAND     5,990     4,985 20.2% $298,902 $306,358 -2.4% $253,959 $256,632 -1.0%     9,321     7,798     28,474     27,010 4.8 5.4
Reported by the MRIS and Coastal Association of REALTORS NOTE: UNITS ARE THE “UNITS” SOLD, PENDING ARE UNDER CONTRACT

Contact: Melissa Lutz
Maryland Association of REALTORS®
800-638-6425
melissa.lutz (at) mdrealtor (dot) org

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