OCTOBER MARYLAND HOME SALES MODEST

Washington, D.C. – (RealEstateRama) — Residential home sales remain steady in October, with a 2.2 percent increase in market activity, according to the Maryland Association of REALTORS® (MAR).  Home prices showed strong gains, with a rise of 7.5 percent in average prices and a gain of 7.3 percent for median price, as compared to the same time period in 2016.

“While the number of unit sold were almost the same as compared to the October 2015, price appreciation in both average and median prices was notable,” said MAR President Shelly Murray. Murray added, “While there is a slight decrease of 1.4 percent in pending units, we are optimistic that there will be strong activity in the remaining months of the year.”
 

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: October 2016

Oct-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               40               30 33.3% $91,047 $113,873 -20.0% $73,750 $97,500 -24.4%                   52                 49                 480                 573 12.0 19.1
Anne Arundel            706            661 6.8% $382,743 $365,228 4.8% $323,450 $301,900 7.1%                796              813              2,651              3,209 3.8 4.9
Baltimore City            632            613 3.1% $169,390 $148,884 13.8% $124,000 $105,000 18.1%                806              826              3,261              3,621 5.2 5.9
Baltimore County            880            847 3.9% $257,619 $248,872 3.5% $217,544 $214,900 1.2%                923           1,013              2,990              3,483 3.4 4.1
Calvert            131            120 9.2% $314,096 $293,812 6.9% $300,000 $272,500 10.1%                135              163                 636                 814 4.9 6.8
Caroline               35               27 29.6% $147,200 $174,077 -15.4% $113,500 $160,000 -29.1%                   39                 34                 240                 298 6.9 11.0
Carroll            192            181 6.1% $329,307 $309,963 6.2% $314,500 $287,500 9.4%                188              195                 775                 962 4.0 5.3
Cecil            111            110 0.9% $230,141 $209,368 9.9% $210,000 $202,500 3.7%                133              121                 656                 815 5.9 7.4
Charles            204            202 1.0% $279,959 $267,477 4.7% $271,000 $250,750 8.1%                239              261                 813                 931 4.0 4.6
Dorchester               36               39 -7.7% $180,456 $166,529 8.4% $146,500 $100,000 46.5%                   48                 42                 328                 356 9.1 9.1
Frederick            342            319 7.2% $301,362 $284,160 6.1% $270,000 $265,000 1.9%                354              341              1,147              1,386 3.4 4.3
Garrett               42               46 -8.7% $325,501 $310,965 4.7% $240,900 $214,250 12.4%                   45                 37                 464                 561 11.0 12.2
Harford            273            344 -20.6% $277,107 $255,240 8.6% $265,000 $231,100 14.7%                313              380              1,198              1,406 4.4 4.1
Howard            377            319 18.2% $435,768 $425,706 2.4% $380,000 $387,000 -1.8%                400              368              1,083              1,280 2.9 4.0
Kent               28               27 3.7% $274,996 $227,169 21.1% $221,250 $163,000 35.7%                   25                 25                 282                 367 10.1 13.6
Montgomery         1,002            935 7.2% $490,665 $463,643 5.8% $403,488 $389,000 3.7%             1,127           1,125              2,717              3,432 2.7 3.7
Prince George’s            798            768 3.9% $274,562 $253,175 8.4% $267,137 $240,000 11.3%             1,160           1,141              1,865              2,160 2.3 2.8
Queen Anne’s               57               67 -14.9% $362,890 $319,527 13.6% $280,000 $291,000 -3.8%                   81                 88                 492                 634 8.6 9.5
Somerset               12               12 0.0% $124,892 $106,731 17.0% $57,408 $115,000 -50.1%                   17                 17                 182                 237 15.2 19.8
St. Mary’s            117            129 -9.3% $273,412 $244,691 11.7% $260,000 $239,000 8.8%                143              117                 677                 772 5.8 6.0
Talbot               60               71 -15.5% $594,943 $512,612 16.1% $341,000 $315,000 8.3%                   57                 68                 496                 570 8.3 8.0
Washington            132            148 -10.8% $187,401 $162,557 15.3% $178,500 $148,000 20.6%                193              168                 748                 939 5.7 6.3
Wicomico               83            100 -17.0% $145,475 $159,724 -8.9% $140,000 $140,700 -0.5%                102                 82                 423                 611 5.1 6.1
Worcester            160            194 -17.5% $265,735 $239,791 10.8% $246,049 $215,000 14.4%                156              169              1,357              1,575 8.5 8.1
MARYLAND      6,450      6,309 2.2% $317,925 $295,822 7.5% $274,797 $256,187 7.3%         7,532        7,643        25,961        30,992 4.0 4.9
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 articleBoustany Announces FEMA Funding for Saint Mary Levee District
Next articleNext Administration’s Interest in Infrastructure Bank Encouraging, Bipartisan Solution Ready