JANUARY 2016 CONTINUES TREND OF STABILIZATION

WASHINGTON, D.C. – (RealEstateRama) — The first month of the new year has started with great promise with an increase of 14.2 percent in home sales, according to the Maryland Association of REALTORS®, (MAR). As compared to January 2015, average prices rose by 2.5 percent and median prices increased by 4.8 percent. Once again, smaller counties continue to experience declines in average and median price. Most notable Kent County with a decline of 32.2 percent and Talbot County with a decrease of 31.4 percent as compared to January 2015.

“We are cautiously optimistic about the start of 2016,” said MAR President Bonnie Casper. “The one area of concern is the decline of 1,114 homes in pending units from 6,013 in January of 2015 to 5,899 to the same time this year,” added Casper. “We look forward to a vibrant spring market.”

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 23,000 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: January 2016

Jan-16 Units Average Price Median Price Pending Units Active Inventory Months of Inventory
2016 2015 % Chg 2016 2015 % Chg 2016 2015 % Chg 2016 2015 2016 2015 2016 2015
Allegany 37 27 37.0% $75,818 $81,393 -6.8% $57,900 $75,000 -22.8% 47 43 464 495 12.5 18.3
Anne Arundel 460 363 26.7% $349,443 $348,485 0.3% $285,500 $297,500 -4.0% 621 649 2461 2675 5.4 7.4
Baltimore City 458 513 -10.7% $134,307 $119,215 12.7% $102,000 $69,000 47.8% 669 725 3050 3059 6.7 6.0
Baltimore County 618 464 33.2% $250,250 $239,118 4.7% $200,000 $187,750 6.5% 763 787 2645 2775 4.3 6.0
Calvert 81 85 -4.7% $293,785 $282,808 3.9% $262,450 $251,000 4.6% 121 105 626 700 7.7 8.2
Caroline 30 27 11.1% $143,145 $129,561 10.5% $132,000 $121,700 8.5% 29 28 248 284 8.3 10.5
Carroll 138 111 24.3% $268,883 $310,755 -13.5% $269,444 $272,000 -0.9% 178 171 751 816 5.4 7.4
Cecil 87 78 11.5% $219,601 $202,523 8.4% $193,000 $185,250 4.2% 98 76 652 706 7.5 9.1
Charles 143 125 14.4% $275,791 $269,601 2.3% $260,000 $248,000 4.8% 209 199 764 818 5.3 6.5
Dorchester 28 15 86.7% $114,264 $130,647 -12.5% $102,742 $125,000 -17.8% 28 39 305 340 10.9 22.7
Frederick 194 159 22.0% $298,496 $300,089 -0.5% $272,500 $280,000 -2.7% 300 302 1072 1000 5.5 6.3
Garrett 27 30 -10.0% $279,593 $261,638 6.9% $240,000 $182,500 31.5% 26 33 419 444 15.5 14.8
Harford 215 167 28.7% $243,733 $253,954 -4.0% $215,000 $225,000 -4.4% 286 254 1129 1217 5.3 7.3
Howard 184 168 9.5% $383,369 $392,996 -2.4% $339,500 $375,000 -9.5% 274 294 952 991 5.2 5.9
Kent 15 14 7.1% $250,583 $369,814 -32.2% $115,000 $167,250 -31.2% 19 19 304 327 20.3 23.4
Montgomery 646 592 9.1% $451,298 $459,091 -1.7% $360,000 $370,500 -2.8% 763 833 2100 2158 3.3 3.6
Prince George’s 599 509 17.7% $248,275 $232,268 6.9% $241,000 $217,000 11.1% 858 884 1804 1759 3.0 3.5
Queen Anne’s 51 31 64.5% $373,709 $267,094 39.9% $319,900 $263,200 21.5% 56 56 472 577 9.3 18.6
Somerset 11 9 22.2% $89,318 $112,644 -20.7% $52,500 $99,900 -47.4% 23 13 194 240 17.6 26.7
St. Mary’s 90 65 38.5% $273,972 $265,272 3.3% $245,500 $243,000 1.0% 115 120 627 649 7.0 10.0
Talbot 52 46 13.0% $397,642 $579,886 -31.4% $303,675 $231,500 31.2% 41 41 447 462 8.6 10.0
Washington 105 113 -7.1% $168,544 $175,653 -4.0% $149,900 $147,500 1.6% 140 143 806 808 7.7 7.2
Wicomico 56 63 -11.1% $127,534 $152,604 -16.4% $119,500 $138,000 -13.4% 81 64 557 590 9.9 9.4
Worcester 114 112 1.8% $253,568 $236,058 7.4% $217,875 $206,250 5.6% 154 135 1417 1668 12.4 14.9

MARYLAND 4,439 3,886 14.2% $287,513 $280,456 2.5% $244,989 $233,812 4.8% 5,899 6,013 24,266 25,558 5.5 6.6
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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