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


JANUARY 2017 HOUSING MARKET STARTS STRONG

The new year has started out promising for the housing market in Maryland, with a 6.8 percent increase in January in homes sales, according to the Maryland Association of REALTORS®, (MAR). Both average and median prices rose by 6.6 and 8.4 percent respectively, as compared to the same time period in 2016. Except for four counties—Queen Anne’s, St. Mary’s, Talbot and Washington ---- the state’s markets posted exceptional gains in prices.

“The strong start to 2017 is very encouraging for the residential sales market,” said MAR President Shelly Murray. “We believe the rise in pending units or houses under contract of 13.4 percent from January 2016 is an indicator for a vital, strong spring market for 2017,” added Murray.

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 January 2017

Jan-17 Units Average Price Median Price Pending Units Active Inventory Months of Inventory
2017 2016 % Chg 2017 2016 % Chg 2017 2016 % Chg 2017 2016 2017 2016 2017 2016
Allegany 37 37 0.0% $90,038 $75,818 18.8% $80,000 $57,900 38.2% 43 47 420 464 11.4 12.5
Anne Arundel 492 460 7.0% $372,131 $349,443 6.5% $305,500 $285,500 7.0% 693 621 2,036 2,461 4.1 5.4
Baltimore City 552 458 20.5% $154,060 $134,307 14.7% $116,500 $102,000 14.2% 821 669 2,682 3,050 4.9 6.7
Baltimore County 599 618 -3.1% $249,479 $250,250 -0.3% $215,000 $200,000 7.5% 897 763 2,177 2,645 3.6 4.3
Calvert 108 81 33.3% $297,243 $293,785 1.2% $263,750 $262,450 0.5% 125 121 495 626 4.6 7.7
Caroline 21 30 -30.0% $149,532 $143,145 4.5% $135,000 $132,000 2.3% 27 29 214 248 10.2 8.3
Carroll 126 138 -8.7% $298,107 $268,883 10.9% $272,450 $269,444 1.1% 183 178 568 751 4.5 5.4
Cecil 75 87 -13.8% $213,980 $219,601 -2.6% $220,000 $193,000 14.0% 108 98 531 652 7.1 7.5
Charles 135 143 -5.6% $275,313 $275,791 -0.2% $270,000 $260,000 3.8% 250 209 637 764 4.7 5.3
Dorchester 29 28 3.6% $187,479 $114,264 64.1% $118,000 $102,742 14.9% 33 28 265 305 9.1 10.9
Frederick 267 194 37.6% $314,309 $298,496 5.3% $300,000 $272,500 10.1% 329 300 819 1,072 3.1 5.5
Garrett 27 27 0.0% $370,389 $279,593 32.5% $325,000 $240,000 35.4% 37 26 340 419 12.6 15.5
Harford 183 215 -14.9% $252,298 $243,733 3.5% $234,000 $215,000 8.8% 289 286 903 1,129 4.9 5.3
Howard 244 184 32.6% $415,298 $383,369 8.3% $367,450 $339,500 8.2% 314 274 729 952 3.0 5.2
Kent 27 15 80.0% $259,785 $250,583 3.7% $165,000 $115,000 43.5% 27 19 227 304 8.4 20.3
Montgomery 704 646 9.0% $482,017 $451,298 6.8% $390,000 $360,000 8.3% 848 763 1,749 2,100 2.5 3.3
Prince George's 655 599 9.3% $268,806 $248,275 8.3% $260,000 $241,000 7.9% 973 858 1,637 1,804 2.5 3.0
Queen Anne's 53 51 3.9% $378,328 $373,709 1.2% $314,900 $319,900 -1.6% 55 56 375 472 7.1 9.3
Somerset 8 11 -27.3% $120,889 $89,318 35.3% $130,250 $52,500 148.1% 18 18 155 179 19.4 16.3
St. Mary's 81 90 -10.0% $255,968 $273,972 -6.6% $242,000 $245,500 -1.4% 116 115 583 627 7.2 7.0
Talbot 50 52 -3.8% $422,504 $397,642 6.3% $290,000 $303,675 -4.5% 51 41 368 447 7.4 8.6
Washington 104 105 -1.0% $169,098 $168,544 0.3% $147,950 $149,900 -1.3% 156 140 598 806 5.8 7.7
Wicomico 57 51 11.8% $133,600 $127,534 4.8% $136,160 $119,500 13.9% 105 73 375 530 6.6 10.4
Worcester 103 114 -9.6% $266,449 $253,568 5.1% $256,691 $217,875 17.8% 149 130 1,209 1,370 11.7 12.0
MARYLAND 4,737 4,434 6.8% $302,243 $283,616 6.6% $261,868 $241,581 8.4% 6,647 5,862 20,092 24,177 4.2 5.5
Reported by the MRIS and Coastal Association of REALTORS NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

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