PRESS RELEASE
For more information: 800-638-6425 • Fax: 443-716-3511 • www.mdrealtor.org



IMMEDIATE RELEASE
Contact: Melissa Lutz
Maryland Association of REALTORS®
800-638-6425
melissa.lutz@mdrealtor.org


DECEMBER MARKET REMAINS CONSTANT

The December residential market ended on a modestly upbeat note, with a 2.8 percent rise in sales, according to the Maryland Association of REALTORS® (MAR). Most counties, with the exception of Allegany, Frederick, Kent and Montgomery, saw moderate December sales growth as compared to the same time period in 2015. Somerset County posted an 80 percent increase in home sales from 10 homes in December 2015 to 18 sales in December 2016. Average and median prices rose by 3.1 and 4.5 percent respectively as compared to December of 2015.

“We are pleased with steady home sales to mark the end of 2016.” said MAR President Shelly Murray. Murray went on to note that, “for the first time in eight years, months of inventory fell below one year in every county in the state. This is a significant achievement for an overall healthy market. We are looking forward to a strong, robust 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 24,000 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: December 2016

Dec-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 47 48 -2.1% $98,118 $104,110 -5.8% $93,000 $74,750 24.4% 38 47 454 499 9.7 10.4
Anne Arundel 709 682 4.0% $375,625 $352,859 6.5% $320,500 $295,500 8.5% 566 567 2,107 2,620 3.0 3.8
Baltimore City 725 685 5.8% $160,304 $162,212 -1.2% $125,000 $120,000 4.2% 715 668 2,810 3,199 3.9 4.7
Baltimore County 888 879 1.0% $253,016 $251,063 0.8% $224,675 $212,000 6.0% 691 792 2,337 2,804 2.6 3.2
Calvert 132 129 2.3% $296,250 $301,742 -1.8% $282,500 $264,000 7.0% 112 107 530 675 4.0 5.2
Caroline 35 30 16.7% $197,636 $164,024 20.5% $195,000 $159,000 22.6% 26 33 218 263 6.2 8.8
Carroll 193 169 14.2% $309,333 $292,479 5.8% $299,900 $255,600 17.3% 131 165 618 816 3.2 4.8
Cecil 112 105 6.7% $220,287 $235,015 -6.3% $184,500 $213,000 -13.4% 90 103 572 717 5.1 6.8
Charles 234 208 12.5% $275,090 $268,360 2.5% $259,950 $254,400 2.2% 185 217 693 783 3.0 3.8
Dorchester 44 44 0.0% $184,096 $214,232 -14.1% $164,950 $149,500 10.3% 28 49 277 317 6.3 7.2
Frederick 316 336 -6.0% $295,090 $294,219 0.3% $268,000 $264,500 1.3% 296 248 886 1,149 2.8 3.4
Garrett 45 33 36.4% $279,931 $226,087 23.8% $225,000 $165,000 36.4% 35 27 388 461 8.6 14.0
Harford 300 273 9.9% $257,379 $242,241 6.2% $229,900 $230,500 -0.3% 233 255 923 1,188 3.1 4.4
Howard 381 355 7.3% $452,719 $414,855 9.1% $397,500 $380,000 4.6% 294 285 804 983 2.1 2.8
Kent 27 28 -3.6% $234,252 $252,761 -7.3% $225,000 $186,400 20.7% 30 19 242 327 9.0 11.7
Montgomery 953 1,026 -7.1% $515,130 $491,083 4.9% $414,000 $389,000 6.4% 816 787 1,799 2,271 1.9 2.2
Prince George's 880 847 3.9% $273,330 $252,606 8.2% $265,000 $244,000 8.6% 921 919 1,705 1,870 1.9 2.2
Queen Anne's 80 77 3.9% $399,881 $361,847 10.5% $332,500 $274,000 21.4% 61 56 385 502 4.8 6.5
Somerset 18 10 80.0% $140,637 $79,800 76.2% $77,944 $61,000 27.8% 213 198 149 186 8.3 18.6
St. Mary's 145 141 2.8% $301,544 $284,937 5.8% $294,900 $267,500 10.2% 121 100 605 677 4.2 4.8
Talbot 56 48 16.7% $473,920 $389,993 21.5% $275,000 $277,000 -0.7% 40 52 401 467 7.2 9.7
Washington 161 158 1.9% $176,261 $175,905 0.2% $159,900 $156,000 2.5% 129 134 624 819 3.9 5.2
Wicomico 74 70 5.7% $134,920 $191,640 -29.6% $118,337 $152,450 -22.4% 88 54 395 557 5.3 8.0
Worcester 161 154 4.5% $254,798 $269,357 -5.4% $164,883 $231,100 -28.7% 108 92 1,174 1,384 7.3 9.0
MARYLAND 6,716 6,535 2.8% $311,522 $302,295 3.1% $269,319 $257,739 4.5% 5,967 &5,974 21,096 25,534 3.1 3.9
Reported by the MRIS and Coastal Association of REALTORS NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

 

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