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


Beginning of Strong Spring Market in March 2016

 

The first quarter of 2016 ended on a strong note with a rise of 6.6 percent in home sales in March, according to the Maryland Association of REALTORS® (MAR). While, average and median prices remained essentially flat, with a growth of 0.7 and 2.3 percent respectively, more buyers are in the market place.  

The numbers for March have confirmed our optimism for a robust spring market," said MAR president Bonnie Casper.  "Pending units are up by almost 17 percent compared to March of 2015, and the 4.4 months of inventory reflects a balanced market - and sellers are carefully pricing their homes and buyers are looking for value - enabling both sides of the transaction to be happy."

 

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 22,000 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: March 2016

 

Mar-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 32 37 -13.5% $76,720 $69,787 9.9% $59,950 $56,000 7.1% 57 70 463 525 14.5 14.2
Anne Arundel 679 556 22.1% $341,773 $355,516 -3.9% $300,000 $299,450 0.2% 1047 866 2508 2736 3.7 4.9
Baltimore City 640 641 -0.2% $148,063 $146,683 0.9% $107,450 $87,500 22.8% 996 946 3144 3028 4.9 4.7
Baltimore County 757 688 10.0% $248,847 $251,879 -1.2% $212,000 $208,350 1.8% 1275 1051 2650 2659 3.5 3.9
Calvert 113 93 21.5% $315,234 $298,730 5.5% $285,000 $273,000 4.4% 207 158 614 697 5.4 7.5
Caroline 20 34 -41.2% $143,641 $155,268 -7.5% $120,000 $155,700 -22.9% 51 46 235 278 11.8 8.2
Carroll 185 158 17.1% $324,636 $269,370 20.5% $292,500 $259,250 12.8% 310 242 759 827 4.1 5.2
Cecil 78 74 5.4% $213,869 $188,833 13.3% $204,000 $180,000 13.3% 150 118 660 721 8.5 9.7
Charles 204 172 18.6% $270,034 $254,244 6.2% $260,000 $249,692 4.1% 295 275 818 777 4.0 4.5
Dorchester 33 38 -13.2% $112,551 $158,371 -28.9% $82,854 $137,500 -39.7% 34 36 316 336 9.6 8.8
Frederick 297 276 7.6% $292,458 $284,984 2.6% $260,000 $260,500 -0.2% 481 405 1140 1034 3.8 3.7
Garrett 31 26 19.2% $251,966 $330,370 -23.7% $190,000 $305,000 -37.7% 55 28 415 444 13.4 17.1
Harford 274 219 25.1% $235,286 $254,800 -7.7% $224,000 $230,000 -2.6% 411 331 1175 1252 4.3 5.7
Howard 281 270 4.1% $425,222 $391,038 8.7% $373,000 $365,162 2.1% 514 425 992 1010 3.5 3.7
Kent 14 21 -33.3% $150,056 $259,248 -42.1% $120,000 $180,000 -33.3% 48 28 322 338 23.0 16.1
Montgomery 841 836 0.6% $473,902 $499,348 -5.1% $385,000 $397,450 -3.1% 1453 1310 2519 2504 3.0 3.0
Prince George's 719 705 2.0% $240,076 $234,460 2.4% $234,900 $224,900 4.4% 1312 1119 1699 1638 2.4 2.3
Queen Anne's 46 52 -11.5% $409,604 $249,843 63.9% $292,500 $235,000 24.5% 95 86 511 633 11.1 12.2
Somerset 19 24 -20.8% $140,847 $95,117 48.1% $76,000 $65,200 16.6% 25 23 205 218 10.8 9.1
St. Mary's 102 91 12.1% $281,435 $252,750 11.3% $261,250 $230,000 13.6% 175 145 684 711 6.7 7.8
Talbot 47 45 4.4% $357,817 $310,271 15.3% $270,000 $270,200 -0.1% 66 48 482 514 10.3 11.4
Washington 139 131 6.1% $167,606 $166,720 0.5% $140,500 $149,900 -6.3% 235 187 745 833 5.4 6.4
Wicomico 90 84 7.1% $140,321 $149,898 -6.4% $142,000 $151,950 -6.5% 122 105 555 578 6.2 6.9
Worcester 131 146 -10.3% $253,766 $237,228 7.0% $224,900 $210,500 6.8% 219 192 1536 1748 11.7 12.0
   
MARYLAND      5,772      5,417 6.6% $291,025 $288,911 0.7% $252,068 $246,361 2.3%         9,633       8,240        25,147        26,039 4.4 4.8
Reported by the MRIS and Coastal Association of REALTORS       NOTE: UNITS ARE THE "UNITS" SOLD, PENDING ARE UNDER CONTRACT

 

 

 

 

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