SALES STAY STRONG IN SEPTEMBER

WASHINGTON, D.C. – October 13, 2016 – (RealEstateRama) — The month of September revealed continued steady sales with a 6.3 percent rise in home sales, according to the Maryland Association of REALTORS® (MAR).  Once again, the smaller rural counties posted declines while the more populated areas had strong sales. Average and median prices made modest gains statewide, with increases of 0.2 and 3.8 percent respectively, as compared to September 2015.

“We are hoping that the trend of robust sales continues throughout the fourth quarter of 2016,” said MAR President Shelly Murray. Murray added, “Based on the numbers of pending units, we expect that October will also report strong sales. We anticipate a vibrant autumn residential 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: September 2016

Sep-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               56               54 3.7% $99,315 $97,699 1.7% $89,000 $69,500 28.1%                   52                 55                 501                 604 8.9 11.2
Anne Arundel            741            693 6.9% $357,925 $343,317 4.3% $315,900 $289,900 9.0%                753              785              2,804              3,349 3.8 4.8
Baltimore City            657            590 11.4% $165,030 $146,858 12.4% $123,000 $112,000 9.8%                877              772              3,321              3,601 5.1 6.1
Baltimore County            922            882 4.5% $262,166 $239,061 9.7% $227,750 $199,950 13.9%             1,011              983              3,070              3,627 3.3 4.1
Calvert            134            125 7.2% $327,924 $314,999 4.1% $299,900 $295,000 1.7%                146              131                 672                 862 5.0 6.9
Caroline               39               35 11.4% $146,674 $156,118 -6.0% $139,500 $145,000 -3.8%                   35                 42                 261                 293 6.7 8.4
Carroll            199            179 11.2% $310,181 $279,533 11.0% $294,000 $265,000 10.9%                188              214                 826              1,002 4.2 5.6
Cecil            120            105 14.3% $208,143 $206,518 0.8% $198,500 $206,000 -3.6%                109              128                 711                 850 5.9 8.1
Charles            224            190 17.9% $273,813 $275,129 -0.5% $269,450 $258,500 4.2%                259              215                 873              1,004 3.9 5.3
Dorchester               54               35 54.3% $205,125 $143,971 42.5% $165,204 $138,020 19.7%                   38                 34                 350                 389 6.5 11.1
Frederick            367            331 10.9% $294,596 $312,089 -5.6% $270,000 $279,900 -3.5%                366              358              1,172              1,398 3.2 4.2
Garrett               41               47 -12.8% $298,365 $330,977 -9.9% $227,500 $218,500 4.1%                   43                 47                 499                 594 12.2 12.6
Harford            336            275 22.2% $272,805 $255,053 7.0% $239,750 $225,000 6.6%                319              355              1,250              1,472 3.7 5.4
Howard            348            345 0.9% $420,513 $433,052 -2.9% $385,000 $370,000 4.1%                408              386              1,179              1,300 3.4 3.8
Kent               31               28 10.7% $298,284 $206,673 44.3% $199,900 $171,000 16.9%                   26                 27                 294                 382 9.5 13.6
Montgomery            917         1,012 -9.4% $478,197 $504,686 -5.2% $392,000 $395,000 -0.8%             1,144           1,121              2,915              3,518 3.2 3.5
Prince George’s            883            823 7.3% $268,999 $252,013 6.7% $260,000 $240,000 8.3%             1,099           1,106              1,917              2,191 2.2 2.7
Queen Anne’s               76               82 -7.3% $305,791 $373,678 -18.2% $290,000 $297,500 -2.5%                   75                 90                 517                 679 6.8 8.3
Somerset               20               19 5.3% $130,189 $64,003 103.4% $91,000 $50,000 82.0%                   21                 21                 196                 248 9.8 13.1
St. Mary’s            117            115 1.7% $288,541 $234,979 22.8% $260,000 $219,900 18.2%                150              136                 704                 806 6.0 7.0
Talbot               57               44 29.5% $476,152 $491,105 -3.0% $295,000 $329,000 -10.3%                   63                 72                 517                 599 9.1 13.6
Washington            193            155 24.5% $204,563 $169,369 20.8% $182,000 $155,000 17.4%                173              184                 809                 928 4.2 6.0
Wicomico               95               87 9.2% $162,575 $164,478 -1.2% $161,010 $152,356 5.7%                101                 76                 464                 622 4.9 7.1
Worcester            182            155 17.4% $269,346 $253,848 6.1% $254,897 $217,500 17.2%                182              190              1,328              1,611 7.3 10.4
MARYLAND      6,809      6,406 6.3% $303,131 $302,419 0.2% $266,294 $256,422 3.8%         7,638        7,528        27,150        31,929 4.0 5.0
Reported by the MRIS and Coastal Association of REALTORS

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

SHARE
Previous articleMaryland Office of the Commissioner of Financial Regulation Receives Accreditation of Mortgage Supervision Program
Next articleBoustany Announces Disaster Recovery Funding for Louisiana Communities