October Maryland Home Sales Modest
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 | NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT | ||||||||||||||
copyright 2016 Maryland Association of REALTORS®