Maryland Blogger

Baltimore Metro Area Housing Market, August 2015

Baltimore Metro Area Housing Market, August 2015

 

If you are planning to move to the Metro Area of Baltimore, Maryland and to purchase a home for your family, it is a good idea to become familiar with the condition of the residential market. The following chart and related information will provide some basic information on the August, 2015 housing statistics.

We always recommend the use of a local exclusive buyer agent who will be able to provide the advice that will lead to the best home purchase decisions. Those who will need mortgage financing, should be in communication with a local loan officer for advice on the best available programs and the dollar amount that should be the maximum loan. Your buyer agent will be happy to recommend mortgage loan officers for your consideration.

 

The Baltimore Metro housing market enjoyed strong sales in August, with double-digit increases in sales and pending contracts and slight growth in inventory levels and new listings.  Although single-family detached and condo median sales prices fell slightly, the increase in townhomes more than compensated, leading to an overall 2% increase in median sales prices in the region.

Closed sales of 3,318 increased by 17.0% from August 2014, although down 8.4% from last month.  New contracts increased 12.9% to 3,552 and are at their highest August level in a decade. The median August sales price of $250,000 was up $5,000 from last year. The median sales price for single-family detached declined 0.9% to $315,000, while townhome prices rose 2.9% to $185,200 and condos decreased 0.1% to $189,750.  Total sold dollar volume across the Baltimore Metro region in August was nearly $960 million, up 17.2% percent from last year, although down 10.7% from last month.  Inventories increased by 1.1% to 14,093 total active listings.RealEstate Business Intelligence

Photograph by Roy Kelley

Roy and Dolores Kelley Photographs

Roy Kelley's photo.
 

 

Roy and Dolores Kelley Photographs

Roy Kelley and Associates

 

Roy Kelley, Associate Broker

Realty Group Referrals (Retired from RE/MAX Realty Group)

6 Montgomery Village Ave., Suite 200

Gaithersburg, MD 20879

Main Office:  301-258-7757 (You will not reach me at this number)

Send an email message if you need my phone numbers. I will be happy to recommend a real estate professional if you are moving to the area.

Comment balloon 19 commentsRoy Kelley • September 15 2015 12:33PM
Baltimore Metro Area Housing Market, August 2015
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